WWD reported that Tillman will vacate the honorary post he has held since 2008 at the end of the year, making way for Massenet to take the helm.
A BFC representative declined to confirm the story, branding the news as rumours.
[A]ny new chairman is subject to BFC executive board approval, the representative said. The BFC executive board is not due to meet until this evening and any announcement cannot be expected until then.
Since joining the BFC in 2008, Tillman, a fashion entrepreneur with stakes in Jaeger and the troubled Aquascutum brand, has professionalised the industry body. Broadly credited with raising Londons reputation on the international fashion scene, he oversaw London Fashion Weeks move to Somerset House and pushed for Burberry to move its womenswear show from Milan to London.