| Mon 19 Sep 2005, 8:27 | | Juan-Carlos Torres Succeed Claude-Daniel Proellohs |
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Richemont Securities AG - Juan-Carlos Torres To Succeed Claude-Daniel Proellochs
As Chief Executive Of Vacheron Constantin
Richemont Securities AG
(Incorporated in Switzerland)
(Registration CH-170.3.013.861-6)
JSE Code : RCH
ISIN : CH0013157380
(`Richemont` or `the Group`)
PRESS RELEASE
19 September 2005
JUAN-CARLOS TORRES TO SUCCEED CLAUDE-DANIEL PROELLOCHS AS CHIEF EXECUTIVE OF
VACHERON CONSTANTIN
Richemont, the Swiss luxury goods group, announces the retirement of Mr Claude-
Daniel Proellochs, Chief Executive of Vacheron Constantin. Mr Proellochs will be
succeeded as Chief Executive by Mr Juan-Carlos Torres, currently Deputy Chief
Executive of Vacheron Constantin.
Paying tribute to Mr Proellochs, Richemont Group CEO, Norbert Platt, said:
`For the last 17 years, Claude-Daniel has steered Vacheron Constantin to a pre-
eminent position in the Haute Horlogerie market. This has been borne out by the
success enjoyed by the brand during this, its 250th anniversary year.
We thank him for his dedication and the immense contribution he has made to the
development of Vacheron Constantin. He has been a passionate advocate for the
Maison and, most importantly, has protected and enhanced the proud Vacheron
Constantin heritage.`
Vacheron Constantin was acquired by Richemont in 1996.
Mr Proellochs position within Vacheron Constantin will be taken by his current
deputy, Mr Juan-Carlos Torres. Mr Torres, a Swiss national, has worked with
Vacheron Constantin since 1981, initially in an accounting role before rising to
become Finance Director in 1987, Finance and Manufacturing Director in 2000 and,
latterly, Deputy Chief Executive in 2002.
Richemont owns a portfolio of leading international brands including Cartier,
Van Cleef & Arpels. Alfred Dunhill, Montblanc and Lancel. Along with Vacheron
Constantin, Richemont owns the prestigious watch manufacturers Jaeger-leCoultre,
Piaget, Baume & Mercier, IWC, A. Lange & Sohne and Officine Panerai.
In addition to its luxury goods business, Richemont holds and 18.5 per cent
interest in British American Tobacco.
Compagnie Financiere Richemont SA
8 Boulevard James-Fazy CH-1201 Geneva Switzerland
Telephone +41 (0)22 715 3500 Telefax +41 (0)22 715 3550 www.richemont.com
19 September 2005
Sponsor
RAND MERCHANT BANK
(A division of FirstRand Bank Limited)
Date: 19/09/2005 07:30:02 AM
Produced by the JSE SENS Department
