Richemont to replace four brand CEOs in the coming months.

02 Feb, 2017

Richemont is set to replace four brand CEOs over the coming months these latest changes will effect Dunhill, Jaeger-LeCoultre, Piaget, and Vacheron Constantin according to the latest reports by Bloomberg and Reuters.

As per the report the CEOs of these brands will be stepping down (although who is doing so voluntarily is obviously a mystery), however Dunhill is receiving an immediate replacement in Andrew Maag, head of Europe, Middle East, India, and Africa for fashion brand Burberry. Jaeger-LeCoultre CEO Daniel Riedo is reportedly leaving at the end of February "for other opportunities," while both Piaget CEO Philippe Leopold-Metzger and Vacheron Constantin CEO Juan-Carlos Torres are retiring. Both Leopold-Metzger and Torres will remain non-executive presidents, according to Bloomberg's source. Georges Kern, who ascended to become head of watchmaking for all of Richemont, will act as interim CEO of Jaeger-LeCoultre, though the plan for the other two brands is not yet known.