Audemars Piguet CEO Resigns

Philippe Merk, CEO of watch brand Audemars Piguet, is stepping down as a result of what the company called “differences in company strategy.”

The company’s board has nominated Francois-Henry Bennahmias as general manager ad interim. Bennahmias, 48, began his career at Audemars Piguet in 1996. In 1999, he was promoted to president and CEO of Audemars Piguet North America.

Merk, the former CEO of Maurice Lacroix SA, took over the CEO position at Audemars Piguet in January 2009.