LVMH Moet Hennessy Louis Vuitton has announced the appointment of a new chairman and CEO for its subsidiary Chateau d'Yquem. The company said yesterday that it has appointed Pierre Lurton to the position.

Lurton replaces Alexandre de Lur Saluces, who becomes advisor to the LVMH group chairman, a position in which he will assist the LVMH senior management in the strategic development of the group's wine business. As honorary chairman of Chateau d'Yquem, De Lur Saluces will also remain a member of the company board.

Lurton is set to remain head of Cheval Blanc wines, which is jointly-owned by Albert Frere and Bernard Arnault.