French luxury conglomerate LVMH on Friday named Stephane Bianchi, the former head of cosmetics firm Yves Rocher, to run its watch business after divisional boss Jean-Claude Biver relinquished his operational responsibilities.

Biver, 69, one of the Swiss watch industry’s best-known and most successful managers, confirmed on Thursday he was stepping aside. He will stay on as a non-executive chairman.

Bianchi, who most recently had sat on the board of the Maus Group that owns fashion brands like Lacoste, will become the CEO of LVMH’s watch brand Tag Heuer, and oversee Hublot and Zenith.

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Frederic Arnault, the 23-year-old son of LVMH’s Chairman and CEO Bernard Arnault, was appointed strategy and digital director at TAG Heuer, the company added.