Richemont appoints CEO after two-year hiatus
Luxury conglomerate and owner of Yoox Net-A-Porter Group, Richemont, has appointed a new CEO after having left the the position vacant for two years.
The Swiss-based group, which also counts Cartier, Montblanc, Azzedine Alaia and Chloé among its brands, announced this morning that Jérôme Lambert, currently Group Chief Operating Officer, would be promoted to the position with immediate effect.
Lambert has had an extensive career with Richemont, having led Jaeger-LeCoultre and Montblanc and overseen the Group’s Specialist Watchmakers, Montblanc and the group’s fashion and accessories businesses prior to taking on the role of Group Chief Operating Officer last year.
“Jérôme’s new role sees him taking responsibility for the Group’s future growth at a time when consumer habits are changing significantly. As we position the Group to meet these challenges, he will lead the development of strategic plans reflecting the long-term objectives and priorities established by the Board," said Cartier chairman Johann Rupert who had previously dispensed with the CEO role.
"As first amongst equals, he will work in partnership with his fellow senior executives on the Board: Cyrille Vigneron, Chief Executive of Cartier, Nicolas Bos, Chief Executive of Van Cleef & Arpels and Burkhart Grund, Chief Finance Officer, to ensure a coherent approach to achieving our common goals while respecting the individuality of our Maisons,” Rupert added.
Richemont’s Specialist Watchmakers, Online Distributors and Other businesses, as well as central and regional functions, will report to Lambert. Lambert will continue to be supported by Sophie Guieysse, Group Human Resources Director, Federico Marchetti, CEO of Yoox Net-A-Porter Group, Emmanuel Perrin in overseeing the Group’s Specialist Watchmaker Maisons and by Eric Vallat, Head of Fashion and Accessories Maisons.
For the financial year ended 31 March 2018, Richemont reported sales of €10.9bn, operating profit of € 1.84bn and profit for the year of €1.22m.
The move to appoint a CEO for the group comes five months after Richemont completed its take-over of Yoox Net-A-Porter Group in which it had previously been the majority shareholder.