LVMH names new CFO

LVMH., the parent company of luxury fashion brands including Louis Vuitton, Dior, and Givenchy, has named Jill Pemberton the new chief financial officer of LVMH North America, Inc. Pemberton will step into her new role beginning August 1. She joins LVMH from Viacom where she was the senior vice president of corporate financial planning and analysis.

Pemberton will report to LVMH Inc. chairman and CEO Anish Melwani. Pemberton takes over the role previously held by Elisabeth Desvignes, senior vice president of finance at LVMH Inc. Desvignes is taking on a special assignment reporting to LVMH group CFO Jean-Jacques Guiony.

Pemberton will be taking on the role in a tough environment for luxury fashion. The global coronavirus pandemic has put a dent in everyone's business, and the main focus for fashion brands right now is how to survive rather than how to grow. Bain & Company recently predicted a contraction of 20 to 35 percent for the global luxury goods market in 2020.