Wrap Text
Richemont announces changes to the board of directors and senior management
Compagnie Financiere Richemont SA
("Richemont" or "the Company" or "the Group")
(Incorporated in Switzerland)
Share code: CFR
ISIN: CH0210483332
RICHEMONT
AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR
17 MAY 2024
RICHEMONT ANNOUNCES CHANGES TO THE BOARD OF DIRECTORS AND SENIOR MANAGEMENT
The Board of Compagnie Financière Richemont SA (Richemont) appoints Nicolas Bos, currently Chief Executive of Van Cleef & Arpels, to the re-established
role of Chief Executive Officer of Richemont effective 1 June 2024, and Bram Schot as Non-executive Deputy Chairman of the Board effective 11 September 2024.
Nicolas Bos will continue to report to Johann Rupert, Chairman of Richemont, and will join the Senior Executive Committee on 1 June 2024. He will be
proposed for election to the Board at the Annual General Meeting to be held on 11 September 2024. In his new role, Mr Bos will directly and indirectly
oversee all the Maisons, functions and regions, notably the Jewellery Maisons, Finance and Human Resources.
A graduate of the ESSEC Business School, Mr Bos joined Richemont in 1992, initially working with the Fondation Cartier pour l'art contemporain in Paris.
In 2000, he joined Van Cleef & Arpels where he held different positions until he became global President and Chief Executive Officer of Van Cleef & Arpels
in 2013. Since September 2019, Mr Bos has also been overseeing Buccellati.
Jérôme Lambert remains on the Board and will continue in the Group as Chief Operating Officer (COO), reporting to Mr Bos, effective 1 June 2024.
Josua (Dillie) Malherbe will be succeeded by Mr Schot as Non-executive Deputy Chairman of the Board, having decided to step down after 11 years of service
in the role. He will remain on the Board as Non-executive Director and as a member of the Audit and Strategic and Security Committees.
Commenting on the appointments, Johann Rupert, Chairman, said:
'I am truly delighted that Nicolas has accepted to assume the re-established role of Chief Executive Officer of Richemont. His vision and ability to uphold
Van Cleef & Arpels' tradition of excellence and creativity have been critical to the Maison's remarkable growth. Building on Richemont's expanded scale and
stronger focus on retail and jewellery, Nicolas will steer the Group through the next phase of its evolution. The re-established CEO role will help
streamline decision making and optimise operational management.
I am equally happy that Jérôme will continue as COO and would like to thank him for playing a significant part in strengthening Richemont's operational
backbone and in helping to successfully navigate the Group through turbulent times. Going forward, I know he will provide solid operational support to
Nicolas in his new role.
I am also glad that such an experienced and seasoned successor as Bram will be taking over from Dillie as Deputy Chairman of the Board. I want to take
this opportunity to express my deep gratitude to Dillie for his invaluable counsel and immense contribution over the years. I am also delighted that he has
accepted to continue to sit on the Audit and the Strategic and Security Committees.'
About Richemont
At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont's
ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.
Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers with A. Lange & Söhne,
Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons
with Alaïa, AZ Factory, Chloé, Delvaux, dunhill, Gianvito Rossi, Montblanc, Peter Millar including G/FORE, Purdey, Serapian as well as Watchfinder & Co.
In addition, Richemont operates NET-A-PORTER, MR PORTER, THE OUTNET, YOOX and the OFS division. Find out more at https://www.richemont.com/.
Richemont 'A' shares are listed and traded on the SIX Swiss Exchange, Richemont's primary listing, and are included in the Swiss Market Index ('SMI')
of leading stocks. The 'A' shares are also traded on the Johannesburg Stock Exchange, Richemont's secondary listing.
Investor/analyst and media enquiries
Investor/analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net;
Disclaimer
The financial information contained in this announcement is unaudited.
This document contains forward-looking statements as that term is defined in the United States Private Securities Litigation Reform Act of 1995.
Such forward-looking statements are not guarantees of future performance. Richemont's forward-looking statements are based on management's current
expectations and assumptions regarding the Company's business and performance, the economy and other future conditions and forecasts of future events,
circumstances and results. Our retail stores are heavily dependent on the ability and desire of consumers to travel and shop and a decline in consumer
traffic could have a negative effect on our comparable store sales and/or average sales per square foot and store profitability resulting in impairment
charges, which could have a material adverse effect on our business, results of operations and financial condition. Reduced travel resulting from economic
conditions, retail store closure orders of civil authorities, travel restrictions, travel concerns and other circumstances, including disease epidemics and
other health-related concerns, could have a material adverse effect on us, particularly if such events impact our customers' desire to travel to our retail
stores. International conflicts or wars, including resulting sanctions and restrictions on importation and exportation of finished products and/or raw
materials, whether self-imposed or imposed by international countries, non-state entities or others, may also impact these forward-looking statements.
As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. Actual results may
differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside the Group's control.
Richemont does not undertake to update, nor does it have any obligation to provide updates of, or to revise, any forward-looking statements.
© Richemont 2024
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 A shares are listed on the Johannesburg Stock Exchange, Richemont's secondary listing.
17 May 2024
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 17-05-2024 07:31:00
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