In the previous months, there have been some gigantic purges at Richemont (Compagnie Financière Richemont SA), which abrogated the job of CEO, and designated IWC’s Georges Kern as Head of Watchmaking and Montblanc’s Jérôme Lambert as Head of Operations. Half a month later came the “Big Reshuffle”, with 4 CEOs (Jaeger-LeCoultre, Vacheron Constantin, Piaget and Dunhill) leaving – intentionally or not. Earlier today, 14 July 2017, Richemont reported the resignation of one of its key components, Georges Kern, the as of late named Head of Watchmaking, Marketing and Digital and ex-CEO of IWC.
It appears to be that the sky is as yet dim over the Richemont Group. After gigantic purges in January, which lead to the production of new situations for both Jérôme Lambert (ex-CEO of Montblanc) and Georges Kern (Ex-CEO of IWC), trailed by a significant reshuffle, as 4 of the past CEOs needed to leave the gathering, we currently have all the more awful news coming from the Compagnie Financière Richemont SA. The gathering was at that point not in the most awesome aspect shape, with 2016/2017 Revenues and Results going down , and new Board Members having been named. Presently it’s no not exactly the Head of Watchmaking, Marketing and Digital, a top chief on the operational side, who’s leaving the gathering, just a short time after starting his new position.
In an authority press release (14 July 2017), Richemont “regrets to declare the resignation with prompt impact of Mr Georges Kern. Mr Kern was Head of Watchmaking, Marketing and Digital. He has ventured down from the Senior Executive Committee and the Group Management Committee and will at this point don’t be representing political decision to the Board of Directors of Compagnie Financière Richemont SA at the forthcoming yearly comprehensive gathering of shareholders.”
Johann Rupert, Chairman, said: “Georges has been offered an intriguing chance to become an entrepreneur. He has had an effective profession at IWC Schaffhausen and we wish him well.”
As of now, no substitution or interval has been announced and Richemont’s watchmaking, promoting and advanced exercises will answer to the Senior Executive Committee. The inquiry is: will this leave the entryway open for Jérôme Lambert to become the head of all operational exercises at Richemont…?
The official public statement can be perused here – “ Richemont declares resignation of Georges Kern, Head of Watchmaking, Marketing and Digital “