Marc Jacobs Taps New CEO (Report)

AP Images

Parent company LVMH plans to announce Sebastian Suhl as the new head honcho.

Marc Jacobs International is poised to announce a new CEO, according to WWD. Parent company LVMH plans to appoint as head honcho Sebastian Suhl, who has held the same position at Givenchy since 2012.

Suhl will replace Bertrand Stalla-Bourdillon, who has served as Marc Jacobs CEO since 2006. Givenchy has grown significantly under Suhl's watch, with 25 worldwide boutiques planned for 2014 according to the report.

PHOTOS Louis Vuitton on the Red Carpet

The move comes after designer Marc Jacobs announced in 2013 that he was stepping down from his role as head designer for Louis Vuitton after 16 years to focus on his eponymous line. Marc Jacobs International likely will turn to Suhl for his label-expanding experience and also may benefit from Suhl's background in taking a company public, with a rumored Marc Jacobs IPO in the works.

Former Louis Vuitton North Asia president and CEO Philippe Fortunato is expected to fill Suhl's Givenchy shoes.