TIME RUNS OUT: Less than a year after being replaced as head of LVMH Moët Hennessy Louis Vuitton’s watches and jewelry division, company veteran Philippe Pascal is leaving the luxury group to pursue personal projects, WWD has learned.

LVMH declined to comment on his departure.

This story first appeared in the January 18, 2012 issue of WWD. Subscribe Today.

Pascal was named as an adviser to LVMH chairman and ceo Bernard Arnault in June, after Bulgari ceo Francesco Trapani took over the watches and jewelry activities in the wake of LVMH’s acquisition of the Italian jeweler.

Pascal joined LVMH in 1994, working in the wines and spirits division before taking over the watches and jewelry activities in 2001, with responsibility for brands including Chaumet, Tag Heuer and Fred.

Pascal’s departure marks the second senior management shake-up at LVMH since September, when it was announced that Louis Vuitton chief executive officer Yves Carcelle would be handing over the reins to former Danone executive Jordi Constans at the end of 2012.

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