Hermès Makes Executive Committee Appointments, Elevates Sustainability Role

by · WWD
The Hermes flagship store in Beijing.Courtesy

PARIS – Hermès International has announced a series of senior leadership appointments that will take effect July 1, as the French luxury group adjusts its executive structure following slower sales growth.

The changes include the promotion of Sharon MacBeath, currently group human resources director and a member of the executive committee since 2022, to executive vice president of human resources and sustainability. The appointment formally brings sustainability under MacBeath’s umbrella, and elevating the sector within the company’s leadership structure.

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Nicolas Martin will also join the executive committee as executive vice president and general secretary. In his expanded role, Martin will oversee the group’s legal department, Hermès Services Groupe, audit and risk management, and real estate operations.

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The appointments follow the planned departure of Olivier Fournier, who has spent 35 years at Hermès and most recently served as executive vice president of corporate development and social affairs alongside executive chairman Axel Dumas. Fournier will retain his position as president of the Fondation d’Entreprise Hermès.

In a statement, the company said the changes mark “a new stage” in the evolution of its governance structure.

The leadership reshuffle comes as Hermès faces a more challenging operating environment than in recent years.

In results released in April, the company reported first-quarter sales growth of 6 percent at constant exchange rates, slightly below analyst expectations. Revenue declined 1 percent on a reported basis due to a negative currency exchange impacts.

Executives attributed part of the slowdown to geopolitical disruption in the Middle East and weaker tourist spending in Europe.

Analysts noted that recent growth has been supported in part by price increases and the continued growth of the company’s leather goods business, raising questions about the strength of other product categories.