Luxury Italian shoe brand Tod’s has appointed John Galantic, former president and COO of Chanel, as its new CEO, replacing founder Diego Della Valle. The leadership change follows a friendly takeover bid by L Catterton, an investment fund linked to LVMH, which allowed Tod’s to delist from the Milan Stock Exchange. Galantic’s extensive experience in luxury brand building is expected to drive Tod’s global growth. The Della Valle family retains a 54% stake in the company, with L Catterton holding 36% and LVMH 10%. Last year, Tod’s reported an 11.9% YoY rise in turnover to 1.12 billion euros ($1.25 billion).