LVMH is reported to have named Jean-Christophe Babin the new chief executive of Bulgari in what has been dubbed a "surprise rejig" of the luxury group’s management line up.
At present Babin heads up TAG Heuer but is set to take over at Bulgari before the end of June, after Louis Vuitton’s chief executive Michael Burke reportedly quit his role after only a month.
No successor has yet been named to replace Babin, who has held the chief executive role at TAG Heuer since 2000.
Last month Bulgari was accused of avoiding making tax payments in Italy of more than €70 million (£56.7m), but LMVH watches and jewellery division president Francesco Trapani has denied any wrongdoing.
Alongside TAG Heuer and Bulgari, LVMH also worked with watch brand Zenith and jewellery and watch brand Chaumet.