Hermès has named Anne-Sarah Panhard as Managing Director of its Perfume and Beauty division, replacing Agnès de Villers who held the position for a decade. Panhard, a 14-year Hermès veteran previously overseeing homeware, takes charge as the beauty business faces headwinds. Sales fell 5.6% to 367 million euros ($387 million) in the first nine months of 2025, marking the division’s first consecutive quarterly decline. De Villers, who launched Hermès’ makeup line in 2020, now moves to lead the leather-equestrian division while remaining board chair of beauty.