Ed Brennan returns as interim CEO

The DFS group, a duty-free specialist owned by LVMH, has announced a leadership change. Benjamin Vuchot, who had led the entity since 2020, has stepped down “to pursue other professional challenges.” His successor is well-acquainted with the company. It is Ed Brennan, who previously led DFS for many years. He takes on the role of chairman of the board and CEO starting November 1. This is an interim assignment.

Brennan has already served for twenty-five years at DFS. He led the group before Vuchot’s appointment. For the past four years, he has held a position as a non-executive director and remained involved in the strategy to reinvent the company.

Toni Belloni, the non-executive director of the board, thanked Vuchot for “his strong leadership at DFS throughout the very challenging period of Covid-19, with the goal of evolving into a leaner, more efficient, and more focused organization. It is important to note that Benjamin also led the development of the ‘Hainan Yalong Bay’ project, which will become a major pillar of DFS’s future growth.”

DFS Group, founded in Hong Kong in 1960, is active in the travel retail sector with 400 outlets spread across 15 airports and 18 T Gallerias centers. It employs 9,000 people and boasts a contingent of 200 million annual visitors at its shopping venues. The pandemic seriously shook its model, and during the first half of 2024, LVMH noted that DFS still recorded sales below its 2019 standards, even though the recovery of international travel is making itself felt.