LVMH has appointed Jean-Christophe Babin as CEO of LVMH Watches, taking over the role previously held by Frédéric Arnault. Babin will oversee LVMH watch brands – TAG Heuer, Hublot, and Zenith – and will remain CEO of Bulgari, Stéphane Bianchi, LVMH Group Managing Director, said in a statement. The move indicates LVMH will continue to run the watches group as a separate division with a lead executive after Frédéric Arnault, one of controlling shareholder Bernard Arnault's five children, moved to head fashion brand Loro Piana.

LVMH rival Richemont Group recently moved Emmanuel Perrin, the head of its specialist watchmakers division, into the role of Panerai CEO. Perrin's position as head of watches won't be replaced as the Richemont specialist watchmakers division is restructured.

The CEOs of the three LVMH watch brands in the division will now report to Babin, an industry veteran who joined TAG Heuer as CEO in 2000 and led the brand for a dozen years before moving to the top job at Bulgari in 2013. LVMH recently scored a decade-long sponsorship deal for Formula One valued at more than $1 billion that returned TAG Heuer to the role of official timekeeper for the race series.