News
The Richemont Shakeup: Round 2
News
The Richemont Shakeup: Round 2
The change-up is coming swift and hard within early days of the years, as a result of what Bloomberg is reporting to be a rather disgruntled Mr. Johann Rupert, wanting to see a younger more diverse mix of executives in the Group’s leadership, in the wake of the group’s less than ideal performance in the last quarters.
For now, the reported departures are: Jaeger-LeCoultre’s Daniel Riedo, who according to Reuters is departing to pursue alternate opportunities, at the end of February.
Juan-Carlos Torres, of Vacheron Constantin, and Piaget’s Philippe Leopold-Metzger will both retire, but are reported by Bloomberg to be staying on as non-executive presidents on the Group Board.
The only change that has been formally confirmed from within at this point is Dunhill. The brand sent out a press release earlier to confirm that Burberry’s Andrew Maag will be heading up the brand from their London base, with immediate effect, following the conclusion of his 10-year tenure with the former where he held the positions of CEO for Europe, Middle East, India, Africa and the Americas and Senior Vice President of Menswear, amongst others.
Flying under the radar is another possible departure from fashion brand Chloe, where Creative Director Clare Waight Keller is quoted by Bloomberg to have indicated her intentions to leave the brand. She has been with the brand for six years.
While we await the confirmations on the above few announcements from Richemont themselves, certain swap overs within the Group have already been set in motion over.
Cartier’s new man at the helm, Cyrille Vigneron was present at SIHH earlier in January. He, in fact, had already been in office shortly after the news of the massive shakeup within the Group late last year.
IWC’s succeeding CEO, Christoph Grainger-Herr was already making rounds at Palexpo alongside the outgoing Mr. Georges Kern.
Jérôme Lambert, of Montblanc is already slated to be succeeded by a certain Nicolas Baretzki, who has been with the brand since 2013. Baretzki will officially begin as of 1 April 2017.
More on the matter as the news develops.
