Richemont shakes things up at the top
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Richemont shakes things up at the top

Richemont, the world’s second-largest luxury group, is bringing in top talent from outside to sit on its management team. The company, which sits behind brands like Cartier, Van Cleef & Arpels, and IWC Watches, has already replaced most of its brand heads in an effort to reinvigorate sales. It has also swapped out former CEO Richard Lepeu (who retired in March) for a senior executive committee. Now, the company is bringing in a new chief technology officer, Jean-Jacques van Oosten from Rewe Digital, and a new HR director, Sophie Guieysse – formerly from rival LVMH.

Richemont’s share price has appreciated by 37% so far this year

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SOURCE: Yahoo Finance

Richemont’s chairman, Johann Rupert, released a statement welcoming the new appointments, and also taking the time to wish good luck to Thomas Lindermann, the company’s outgoing head of HR. He said:

“I am delighted that Jean-Jacques van Oosten and Sophie Guieysse are joining Richemont and its Senior Executive Committee. The creation of the Chief Technology Officer position and Jean-Jacques van Oosten’s appointment reaffirms Richemont’s commitment to meet the demands of today’s environment. Jean-Jacques van Oosten brings over fifteen years of experience in scaling, transforming and internationalising online and multichannel businesses. Sophie Guieysse brings a twenty-year Human Resources experience across diverse cultural environments in the luxury and digital sectors.

These appointments will strengthen significantly the Group’s ability to address current challenges and bring Richemont into a new era of agility and performance.

I want also to take this opportunity to thank Thomas Lindermann for his contribution to the Group over the last twenty years and the progress made during his tenure as Group Human Resources Director. He has established a highly professional team in Geneva and a strong human resource function across all our platforms. We wish Thomas every success in his future endeavours.”

Disclosure

Dominion holds Richemont in its Global Trends Luxury Fund.


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