Richemont Group Reorganizes Senior Management Iwc And Montblanc Ceo Enters The Board

Richemont Group CEO Richard Lepeu plans to leave on March 31, 2017, when he will reach retirement age. CFO Gary Saage will also retire on July 31, 2017 and return to the United States. The Board recognized the need to respond quickly to the challenges facing the Group and the current state of the luxury goods industry, and therefore decided to restructure senior management and adjust related responsibilities.

Richemont Group Executive Chairman Johann Rupert

   Johann Rupert will continue to serve as Executive Chairman of Richemont. The following senior executives will be nominated to the Board of Directors and submitted to the Annual Shareholders’ Meeting for approval in September 2017.

Georges Kern, current CEO of IWC

· Van Cleef & Arpels CEO Nicolas Bos Joins the Board
Deputy Chief Financial Officer Burkhart Grund promoted to Chief Financial Officer
Georges Kern, CEO of IWC, transferred to director of watch, marketing and digital business
Montblanc CEO Jérôme Lambert reassigns operations director to all departments except central and regional services and watches and jewellery

Montblanc CEO Jérôme Lambert

   Other candidates for the board of directors will be nominated before the annual shareholder meeting in September 2017.