Appointment of Jérôme Lambert as Group Chief Executive Officer
Compagnie Financière Richemont SA
Depositary Receipts issued by Richemont Securities SA
("Richemont Securities" or "Richemont")
(Incorporated in Switzerland)
Share code: CFR
Depositary Receipt Code: CFR
10 SEPTEMBER 2018
RICHEMONT ANNOUNCES APPOINTMENT OF JÉRÔME LAMBERT AS GROUP CHIEF EXECUTIVE OFFICER
Richemont is pleased to announce the appointment of Mr Jérôme Lambert, currently Group Chief Operating Officer, as Group Chief Executive Officer with immediate effect.
Mr 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.
Commenting on the appointment, Mr Johann Rupert, Chairman of Richemont, said:
"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.
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 and Arpels and Burkhart Grund, Chief Finance Officer, to ensure a coherent approach to achieving our common goals while respecting the individuality of our Maisons."
Richemont's Specialist Watchmakers, Online Distributors and Other businesses, as well as central and regional functions, will report to Jérôme. Jérôme 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.
Richemont owns a portfolio of leading international 'Maisons' which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, being Cartier and Van Cleef and Arpels; Specialist Watchmakers, being A. Lange and Söhne, Baume and Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, being YOOX NET-A-PORTER GROUP and Watchfinder.co.uk; Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Montblanc and Peter Millar.
For the financial year ended 31 March 2018, Richemont reported sales of EUR 10 979 million, operating profit of EUR 1 844 million and profit for the year of EUR 1 221 million.
Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont's primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont's secondary listing.
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Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)
COMPAGNIE FINANCIERE RICHEMONT SA
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