| Thu 13 Nov 2003, 11:19 | | MANAGEMENT APPOINTMENTS AT RICHEMONT |
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RICHEMONT - MANAGEMENT APPOINTMENTS AT RICHEMONT
RICHEMONT
Richemont Securities AG
Share code: RCH ISIN: CH0013157380
PRESS RELEASE DATED 13 NOVEMBER 2003
MANAGEMENT APPOINTMENTS AT RICHEMONT
Richemont, the Swiss luxury goods group, announces the following appointments:
Mr Richard Lepeu, currently Chief Operating Officer, has been appointed to
succeed Mr Jan du Plessis as Group Finance Director of Richemont. Mr Lepeu will
formally take up his new responsibilities on Mr du Plessis" departure on 1 May
2004 and will work together with Mr du Plessis in the interim period to ensure a
smooth transition. This follows the recent appointment of Mr du Plessis as non-
executive Chairman of British American Tobacco. In his new role, Mr Lepeu will
remain a member of the Management Board of Richemont SA, Luxembourg and will be
nominated to the Board of Compagnie Financiere Richemont SA, subject to the
approval of shareholders at the Annual General Meeting to be held in September
2004.
Mr Lepeu joined Cartier in 1979, having previously worked in the corporate
finance sector in Paris. He was Company Secretary of Cartier from 1981 to 1985,
Director of Finance and Administration from 1985 to 1995 and Chief Executive of
Cartier from 1995 to 2001. As Chief Operating Officer of Richemont his
responsibilities include the Group"s distribution and shared service
infrastructure.
Mr Yannick Lakhnati has been appointed Chief Operating Officer of Richemont to
assume the responsibilities currently held by Mr Lepeu. He will formally take up
these duties on 1 January 2004 and will become a member of the Management Board
of Richemont SA, Luxembourg. Mr Lakhnati, aged 44, is a French national. He
graduated from the Institut Superieur de Gestion, Paris in 1983, served with the
UN Food and Agriculture Organisation from 1983 to 1985 and worked with a
specialist management consulting firm from 1986 to 1994, when he joined Remgro
Limited in South Africa. He has worked with Remgro and its subsidiary companies
up until this year.
Commenting on the appointments, Mr Johann Rupert, Executive Chairman of
Richemont, said:
"Richard will make an ideal successor to Jan du Plessis. He has been with the
Group for over 20 years and has an in-depth understanding of the business,
having worked within Cartier, Richemont"s principal brand, and at the Group
level. He will benefit from the assistance of the strong team that Jan has built
and from the extended handover period until Jan leaves us at the end of April.
I welcome Yannick Lakhnati to Richemont and look forward to working closely with
him. He has a broad-based background, having studied in France and worked both
in Europe and Africa. With his strong analytical skills, Yannick will
significantly enhance the effectiveness of Richemont"s management team.
I wish both Richard and Yannick every success in their new roles."
Richemont is a Swiss luxury goods group. The Group owns a portfolio of leading
international brands including Cartier, Van Cleef & Arpels, Piaget, Montblanc,
Dunhill and Lancel as well as the prestigious watch manufacturers Jaeger-
LeCoultre, Baume & Mercier, IWC, Vacheron Constantin, A.Lange & Sohne and
Officine Panerai.
In addition to its luxury goods business, Richemont holds a 19.2 per cent
interest in the ordinary share capital of British American Tobacco.
Further enquiries: Alan Grieve
Company Secretary
Compagnie Financiere Richemont SA
Telephone: + 41 22 715 3500
Date: 13/11/2003 08:01:03 AM Produced by the JSE SENS Department
