| Wed 7 Jul 2004, 8:34 | | DR FRANCO COLOGNI |
|
RICHEMONT SECURITIES AG - DR FRANCO COLOGNI
RICHEMONT SECURITIES AG
(Incorporated in Switzerland)
Share code: RCH
ISIN: CH0013157380
(`Richemont`)
DR FRANCO COLOGNI
Richemont, the Swiss luxury goods group, announces that Dr Franco Cologni has
decided to retire from his full-time executive role at the time of his 70th
birthday in November 2004. He will therefore step down from the board of
Richemont SA, Luxembourg - the Group`s management board. Dr Cologni will remain
on the board of Compagnie Financiere Richemont SA, the ultimate parent company,
as Senior Executive Director. Dr Cologni will continue to serve as Chairman of
Vacheron Constantin and of Officine Panerai. He has also been invited by Mr.
Johann Rupert to join Richemont`s Strategic Committee. Dr Cologni will be
involved primarily in the creative aspects of the Group, notably the Creative
Academy in Milan, and in overseeing special events such as the forthcoming
Montres et Merveilles exhibition to be presented by Richemont in Beijing. In his
new capacity, he will continue to be closely associated with the Salon
International de la Haute Horlogerie in Geneva. Mr Johann Rupert, Richemont
Executive Chairman, said:
Quote
Franco has been one of the most important and influential executives in the
Group over the last 35 years. He has guided not only Cartier but also our watch
brands to the success that they enjoy today. He was also instrumental in
bringing Panerai into the Group and was the promoter of the Richemont Creative
Academy in Milan. I have long admired his good taste, his professionalism and
his commitment. Whilst he has indicated that, at 70, he wishes to reduce his
executive responsibilities, Franco will continue to be closely involved in many
aspects of the business and I look forward to working with him on the Strategic
Committee.
Unquote
Dr Cologni commented:
Quote:
I am honoured to be able to continue to serve the Group as a member of the Board
of Directors of Compagnie Financiere Richemont SA. Design and craftsmanship are
key to Richemont and I will endeavour to contribute my experience and knowledge
of the luxury sector - especially in terms of jewellery and watchmaking - to the
Group. I hope to be able to continue to contribute in terms of culture and the
applied arts in the years to come and to be involved in an editorial capacity
with the various publications of the Group, for example Cartier Art.
Unquote
Richemont owns a portfolio of leading international brands including Cartier,
Van Cleef & Arpels, Alfred Dunhill, Montblanc and Lancel as well as the
prestigious watch manufacturers Jaeger-LeCoultre, Piaget, Baume & Mercier, IWC,
Vacheron Constantin, A. Lange & Sohne and Officine Panerai. In addition to its
luxury goods business, Richemont holds an 18.6 per cent interest in British
American Tobacco.
Press inquiries: Mr Alan Grieve
Director of Corporate Communications
Telephone: +41 (0)22 715 3736
Analyst`s inquiries: Ms Sophie Cagnard-Fabrici
Head of Investor Relations
Telephone: +44 (0)20 7838 8581
Date: 07/07/2004 07:30:04 AM Produced by the JSE SENS Department
