Givenchy has announced the appointment of Renaud de Lesquen as its new President and Chief Executive Officer according to a report by WWD.com. He is currently president and CEO of Dior Americas and will step into his role from April 1.

De Lesquen is joining Givenchy at a time when their perfume and beauty business is growing rapidly and his expertise in both fashion and beauty will help the brand continue on its growth. He succeeds LVMH veteran Phillip Fortunato who guided the company through two very different creative directors, Riccardo Tisci and Clare Waight Keller.

According to WWD.com, Sidney Toledano, chairman, and CEO of LVMH Fashion Group thanked Fortunato “for his important contribution to the maison Givenchy and the LVMH Group. I wish him all the best in his future personal endeavors.”

Commenting on the arrival of de Lesquen, Toledano said, “I had the opportunity to work very closely with him at Dior Couture and I am convinced that this appointment will lead the maison to further growth and success.”