On December 18, LVMH (Moët Hennessy Louis Vuitton), headquartered in France, announced the resignation of Jordi Constans, CEO of Louis Vuitton. He will be succeeded by Michael Burke, CEO of Bulgari. Constans had only been in the role one month prior, and is stepping down due to health issues. Burke joined the LVMH Group in 1986. He served as CEO of Christian Dior USA from 1986 to 1993, acting CEO of Christian Dior Couture in 1997, CEO of Fendi from 2003, and became CEO of Bulgari in February 2012. He will also serve as an LVMH executive officer. Bernard Arnault, Chairman and CEO of the LVMH Group, commented, "I have worked with Burke for a long time at LVMH. I am confident that his leadership, combined with his extensive experience and understanding of the brand, will enable Louis Vuitton to continue to grow as a leading brand in the luxury industry."