French fashion house Chanel is undergoing executive changes as Asia-Pacific President Vincent Shaw plans to retire in June after 30 years with the company. Shaw’s role will be divided between Renaud Bailly, currently managing director for China, and Stephanie Couette, managing director of Hong Kong and Macau. This move follows a series of long-serving management departures at Chanel since Leena Nair became CEO two years ago, including the exits of US president and COO John Galantic and UK president Olivier Nicolay. Chanel recently reported a 17 percent increase in sales for 2022, boosted by Chinese shoppers and strong performance in various regions.