Sep 21, 2017
Richemont hires HR head from LVMH to bolster management team
Sep 21, 2017
Luxury goods group Richemont moved to shore up its management team on Thursday by appointing two outsiders to its senior executive committee.
The maker of Cartier jewellery and IWC watches said it had hired Sophie Guieysse from luxury rival LVMH as group human resources director and Jean-Jacques van Oosten from Rewe Digital for the new role of chief technology officer.
Falling sales and profits at its watch business prompted Richemont to replace almost all its brand heads and appoint a senior executive committee to take over from former Chief Executive Richard Lepeu, who retired in March.
But Georges Kern, who had been touted as a future CEO, quit in July after just four months as head of the watch business to join rival Breitling.
Richemont's replacement of Thomas Lindemann, a 20-year Richemont veteran, with LVMH's Guieysse was seen by watch expert Gregory Pons as a recognition of the problems the Swiss firm is having developing and retaining talented managers.
Richemont did not give details on van Oosten's responsibilities as chief technology officer, but sources close to the matter said he was taking on digital tasks from Kern who was head of watchmaking, marketing and digital.
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