As our “Watch Insider” Alexander Linz reported as a rumor in his blog earlier this week, the Richemont Group has announced changes in its Group Management Committee that will result in new leadership at one of its luxury maisons, Montblanc. Click here to read the official release from Richemont.
Richemont announces the following changes to its Group Management Committee.
Mr Lutz Bethge, currently Chief Executive Officer of Montblanc International, will be appointed as non-executive Chairman and Head of Supervisory Board of Montblanc. In this capacity, Mr Bethge will represent the Maison externally and will be an advisor to the Maison on strategic matters. He will step down from operational business and from the Group Management Committee on 30 June 2013.
On behalf of the Group, Richemont’s Board of Directors would like to thank Mr Bethge for his immense contribution to the development of Montblanc from a traditional writing instrument manufacturer to a strong luxury Maison. During his 23-year tenure in various roles, the Maison has been recognized as a legitimate player in the watch business, providing continued and significant growth. The Board wishes Mr Bethge every success in his new role.
Richemont’s Board of Directors is also pleased to announce the appointment of Mr Jérôme Lambert, currently Chief Executive Officer of Jaeger-LeCoultre, as Chief Executive Officer of Montblanc. Mr Lambert will remain a member of the Group Management Committee. Montblanc’s new management organization will be effective from 1 July 2013.
Mr Daniel Riedo, currently Industrial Director of Jaeger-LeCoultre, will succeed Mr Lambert as Chief Executive Officer of Jaeger-LeCoultre.