Leadership roles at luxury houses Moët, Tiffany, and Rimowa precede Alexandre Arnault's new appointment to the governing body of Nike. The company stated that the LVMH executive earned a reputation for helping iconic global brands during his tenure at those high-end properties.

The move follows a period in which Nike has struggled to find its footing on a path forward for the business. Arnault is an heir to the LVMH luxury conglomerate and officially joins the sportswear company's board of directors on Sept. 17.