Cartier maker Richemont made Jerome Lambert chief executive on Monday, handing the luxury goods veteran the task of continuing to take the group, in particular its watch brands, digital.
Richemont, also known for its IWC and Piaget watches, scrapped the CEO role a year and a half ago, when Richard Lepeu retired, appointing instead a senior executive committee.
The appointment of Lambert, which coincided with the announcement of a 10 percent rise in constant currency sales growth in the five months to Aug. 31, was read as a sign Richemont controlling shareholder and Chairman Johann Rupert is now confident enough to step back from day-to-day management.
"Jerome's new role sees him taking responsibility for the Group's future growth at a time when consumer habits are changing significantly," Rupert said in a statement. Lambert, who steps up from his role as chief operating officer.
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