Chanel has promoted Barbara Menarguez to senior vice president and chief financial officer.
An 11-year veteran of the company, she most recently was vice president, strategy, a role created in 2006 and one that involved working with global chief executive officer Maureen Chiquet, executing strategic initiatives and sharing ideas across all divisions. Menarguez succeeds Mike Murphy who left the company in October.
In her new role, Menarguez has all financial departments reporting to her, and she will continue to guide the company’s strategic efforts.
Menarguez continues to be based in New York and reports to John Galantic, president and chief operating officer of Chanel Inc., and Michael Rena, chief administrative officer.
Galantic said, “Barbara’s work ethic, comprehensive knowledge of the business, rigorous approach to analysis and decision making and excellent process management skills make her extremely suited for her new role.”
Menarguez, who has more than 20 years of financial experience and is a certified public accountant, has become a member of Chanel’s Global Finance Coordinating Committee.