January 14, 2026
Frédéric Chevalier succeeds Dag Rasmussen as CEO Lagardère Travel Retail, Arnaud Lagardère appointed Non-Executive Chairman
Rasmussen will retire from his executive responsibilities on March 1, 2026, after more than a decade at the helm of the company
Lagardère Travel Retail announced today (January 14) that Dag Rasmussen will retire from his executive responsibilities on March 1, 2026, after more than a decade at the helm of the company.
Following a successful leadership transition initiated in June 2025, Frédéric Chevalier will, as of the same date, succeed him as Chief Executive Officer, ensuring the continuity of the company’s management and long-term strategy. Chevalier will perform his duties under the supervision of a Board of Directors chaired by Arnaud Lagardère, appointed Non-Executive Chairman.
Chevalier joined Lagardère Travel Retail in 2006 and has been central to the company’s transformation over the past two decades. Having served at various positions, he has been deeply involved in defining and executing the company’s strategy, including the structural integration of its three business lines – Duty free & Fashion, Travel Essentials and Dining – and the acceleration of its global development. His appointment to succeed Dag Rasmussen as CEO reflects a natural and well-prepared evolution, fully aligned with the company’s long-term strategy.
Rasmussen joined Lagardère Travel Retail in 1988 and has been a key architect of its growth and global positioning. Under his leadership, the company has tripled its revenue, expanded its footprint across all regions and business lines, and established itself as one of the leading players in the global travel retail industry, recognized for the quality of its operations, its partnerships and its strong company culture.
Arnaud Lagardère commented, “Dag Rasmussen has played a decisive role in transforming Lagardère Travel Retail into a global leader in his sector. Over more than a decade, he has combined strategic vision with exceptional execution, building a company that is stronger, more resilient, and well positioned for the long term. I would like to present my most sincere thanks to Dag for his commitment and contribution to the company’s success, and I wish him every happiness during his well-deserved retirement.
“I also extend my congratulations to Frédéric Chevalier, who I am confident will lead Lagardère Travel Retail into its next chapter, in continuity with the strategy that has delivered such strong results.”
“These past 37 years with Lagardère Travel Retail have been a remarkable journey,” Dag Rasmussen said. “With the decisive support of Arnaud Lagardère and the Group, and the commitment of all our teams, we have built a company that is stronger, more global, and better positioned for the future.
“The leadership transition we initiated last year was designed to ensure continuity and long-term success, and I am fully confident in Frédéric’s ability to carry this momentum forward, with the support of the Board. I would also like to thank Arnaud Lagardère and the Board of Lagardère SA for their trust and continued support over the years. It has been a privilege to work with such talented colleagues and partners across the world, and I am sincerely thankful for their commitment, professionalism, and the relationships built over the years, particularly during my time as Chairman & CEO. I wish them and the company every success in the future.”
Frédéric Chevalier added, “Arnaud Lagardère’s vision and Dag’s leadership have profoundly shaped Lagardère Travel Retail and the company we are today. I am proud to build on his legacy and to develop our strategy with the same ambition, discipline, and sense of responsibility toward our teams, our partners, our customers, the Board and our shareholders. The transition carried out over recent months provides a very strong foundation for the next phase of our development.”
