NEW YORK — The long-awaited executive shuffle finally happened Tuesday.
Saks Inc. confirmed widespread reports that Fred Wilson will become president and chief executive officer of Saks Fifth Avenue Enterprises, while LVMH Moët Hennessy Louis Vuitton said Jeffry Aronsson would replace Wilson as ceo of Donna Karan International.
Wilson and Aronsson face substantial challenges in their new roles. SFAE has been struggling, while Karan is said to be on the block, but LVMH denies it.
For more on the Saks and Karan appointments, see stories Wilson’s Next Challenge: SFA and Jeffry M. Aronsson to Join Donna Karan.