Five days on from the news of Swatch Group’s departure from Baselworld, MCH Group’s CEO (the fair’s organizer), Rene Kamm has just announced his resignation.
In a press release published earlier today, the Group has stated that the decision was jointly reached by the Board of Directors and Rene himself, in acknowledging, “that the time has come for a change in the operational leadership of MCH Group in view of the fundamental transformation phase in business operations”.
While the Group goes into hunt mode for its new CEO, Ulrich Vischer, Chairman of the Board of Directors will take on the task in the interim.
Rene started with the Group in 1999, as director of Baselworld and is said to have been instrumental in the fair and the Group’s development on the international front. But with investor confidence shaken and Nick Hayek’s heavy concerns about how the group management has displayed an unfortunate level of disregard for the watch industry, MCH would’ve been left with little choice but to take drastic actions.
For more information, you can find the complete press release at mch-group.com