Former L’Oréal and Louis Vuitton executive Pierre-Emmanuel Angeloglou has been named CEO of Fendi, effective June 1, according to an internal announcement seen by BoF. Angeloglou will take the helm of Fendi in addition to his responsibilities as managing director of LVMH Fashion Group.

Serge Brunschwig, the Roman brand’s CEO since 2018, will transition to a new role at LVMH that will be announced “in a near feature,” according to the announcement.

Angeloglou joined LVMH in 2019 as a strategic advisor to Louis Vuitton’s then-CEO Michael Burke, after two decades at L’Oréal Group culminating with a stint as global brand president of its flagship L’Oréal Paris unit.

Earlier this year Angeloglou followed Burke to LVMH Fashion Group, where the Franco-American fashion veteran has succeeded Sidney Toledano as CEO.

LVMH has been working to restructure management of its sprawling portfolio of fashion brands in recent months, BoF reported. Soon after joining the Fashion Group unit — whose brands range from billion-per-year-plus businesses like Celine, Fendi and Loewe to much smaller brands like Pucci and Kenzo — sources familiar with the matter say Burke handed off key responsibilities to other executives in the group including Toledano, Angeloglou and Delphine Arnault.

Stay tuned to BoF for updates on this developing story.