| Fri 13 Nov 2009, 7:34 | | CFR - Compagnie Financiere Richemont SA Depositary Receipts - Mr Johann Rupert |
|
CFR
CFR
CFR - Compagnie Financiere Richemont SA Depositary Receipts - Mr Johann Rupert
to assume role of Chief Executive Officer from 1 April 2010
Compagnie Financiere Richemont SA Depositary Receipts
issued by Richemont Securities AG
(Incorporated in Switzerland)
ISIN: CH0045159024
Depositary Receipt Code: CFR
("Richemont" or "the Company" or "the Group")
MR JOHANN RUPERT TO ASSUME ROLE OF CHIEF EXECUTIVE OFFICER FROM 1 APRIL 2010
In May 2009, Mr Norbert Platt, the current Group Chief Executive Officer
indicated his intention to retire at the end of the year for health reasons. Mr
Johann Rupert, the Group`s Executive Chairman, will also assume the role of
Chief Executive Officer with effect from 1 April 2010. Mr Platt will remain as
a director of Compagnie Financiere Richemont SA and will act as an advisor to
the Group.
Mr Rupert commented as follows:
"Since he took up the role of Chief Executive Officer in 2004, Norbert has
achieved remarkable results in terms of building the Group, rationalising its
operations and improving our logistics infrastructure. Over the period we have
seen a dramatic growth in sales and profitability at Richemont, even if the
crisis of the past year has impacted the luxury goods industry so negatively.
Richemont`s philosophy is that our Maisons should operate largely autonomously,
whilst benefiting from the Group`s central and regional support services. In
these challenging times, we want to ensure consistency in our management
approach. Richemont has strong management in the Maisons, in the regions and in
our central functions and I look forward to working more closely with my
colleagues."
The Board of Compagnie Financiere Richemont SA has also nominated Lord Renwick
of Clifton to assume the role of Lead Independent Director, given the
combination of Mr Rupert`s role as Executive Chairman and Chief Executive
Officer.
Richemont holds a portfolio of several of the most prestigious names in the
luxury goods industry including Cartier, Van Cleef & Arpels, Piaget, Vacheron
Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill and Montblanc.
Compagnie Financiere Richemont SA
50, Chemin de la Chenaie CH-1293 Bellevue - Geneva Switzerland
Telephone +41 (0)22 721 3500 Telefax +41 (0)22 721 3550 www.richemont.com
13 NOVEMBER 2009
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 13/11/2009 07:34:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
