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The world's richest person, Bernard Arnault, has appointed his daughter, Delphine Arnault, to head the fashion house Dior.
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The Chairman and Chief Executive Officer Arnault appointed his child in an overhaul at LVMH.
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He also appointed an interim boss for Louis Vuitton.
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Pietro Beccari, who has been in charge of Dior since the year 2018, is now slated to succeed Michael Burke, the long-time CEO of Louis Vuitton.
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"Both (Delphine Arnault and Pietro Beccari) are well respected; logical promotions within the group," said Credit Suisse analyst Natasha Brilliant.
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The changes will come to effect in February.
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Delphine, 47, who is a model, previously worked for Louis Vuitton for a past decade with Burke and also worked for more than a dozen years with Dior.
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Beccari previously headed the label owned by LVMH Fendi and increased the sales of Christian Dior significantly during his time in charge.
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Five of Bernard Arnault's children are in management positions at brands belonging to the group.