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Tory Burch keeps it in the family with new CEO

Tory Burch is handing over the reins of CEO of her namesake fashion company. But she is very close to the incoming chief.

Tory Burch LLC has named Pierre-Yves Roussel as CEO, starting early 2019. A longtime LVMH executive, Roussel and Burch became engaged in 2016 and were recently married. With the change at the top, Burch herself will assume the role of executive chairman and chief creative officer.

Roussel served as chairman and CEO of the LVMH Fashion Group for the last 15 years and a member of the LVMH Executive Committee. During his tenure, he successfully led the repositioning and global development of the fashion brands portfolio of the group including, among others, Celine, Givenchy, Loewe and Pucci. Roussel started his career as a financial analyst at HSBC and Morgan Stanley followed by 14 years with McKinsey & Company as a senior partner in charge of the luxury, retail and consumer goods practice.

“I respect what he has built at LVMH and value the way he thinks about business, luxury and the fashion industry as a whole,” said Burch. “He also shares my belief in the importance of a culture-led company. We have a strong management team in place and Pierre-Yves is a natural fit as we continue to focus on long-term growth and global expansion.”

Roussel will be based out of Tory Burch’s New York headquarters. He will join and report to the company’s board of directors. In partnership with Burch, he will lead and implement the company’s global strategy with a focus on operations.

There are more than 250 Tory Burch boutiques across North America, Europe, the Middle East, Latin America, Asia and Australia, and the collection is available at over 3,000 department and specialty stores worldwide and
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