Back in November 2016 we posted about some major management changes at Richemont, with the retirements of CEO Richard Lepen, CFO Gary Saage, and eight Board members, the abolishing of the CEO position, and a new structure in which the heads of brands would report directly to Board and Executive Chairman Johann Rupert.
It had been also announced that vacant positions on the Board were be filled by four existing Richemont executives, that IWC CEO Georges Kern will be Head of Watchmaking, Marketing and Digital, and Montblanc CEO Jérôme Lambert would be Head of Operations and everything excluding jewellery and watches. The Deputy Financial Officer Burkhart Grund will become Chief Financial Officer.
At SIHH 2017 there was talk of more movement and so it has come to pass, with Richemont announcing more significant management changes.
Piaget’s managing director of marketing and sales Chabi Nouri will take over from CEO Philippe Leopold-Metzger when he retires and becomes non-executive president on April 1. Louis Ferla, Vacheron Constantin’s managing director for marketing and sales, will take over from Juan-Carlos Torres when he retires on 1 April 2017. He will also become non-executive president.
Daniel Riedo will leave Jaeger-LeCoultre on 28 February 2017 and Georges Kern will be interim CEO. Geoffroy Lefebvre, managing director of operations for Vacheron Constantin, will be appointed Deputy CEO of Jaeger-LeCoultre.
All will join the Board, with the addition of Van Cleef & Arpels CEO Nicolas Bos.
As one of these changes is an interim one, expect another announcement sooner rather than later.