THE WHAT?  Chanel is preparing for a leadership transition in its Asia Pacific region, with Vincent Shaw, the current Asia Pacific president, set to retire at the end of June after a 30-year tenure.

THE DETAILS His responsibilities will be divided between Renaud Bailly, the managing director for China, and Stephanie Couette, the managing director for Hong Kong and Macau.

THE WHY?  This change comes amid a broader generational shift within Chanel, marked by the departure of several senior executives following the appointment of Leena Nair as chief executive officer two years ago.