Timex Group B.V., one of the world’s largest watchmakers, has appointed Arthur J. Morissette as corporate senior vice president and chief financial officer, effective June 1. He reports directly to Timex Group B.V. president and chief executive officer, Hans-Kristian Hoejsgaard.
As CFO, Morissette is responsible for leading the Timex Group’s financial functions and ensuring that “its solid financial and business practices are an integral part of the business strategy,” according to a company statement. He will also provide “independent and objective leadership support to the businesses within the Timex Group portfolio.”
Morissette comes to the Timex Group from Alvarez & Marsal, a global professional services firm providing performance improvement, turnaround management, and corporate consultation, where he spent five years as a senior director of restructuring and turnaround.
At Alvarez & Marsal, he was a financial consultant to the Timex Group. Prior to that, Morissette spent 27 years at the Duo-Fast Corp, rising to CFO.
“As a consultant, Arthur has been instrumental in providing consistency and focus to the Corporate Finance team. His professional and leadership skills are truly exceptional,” said Hoejsgaard. “I could think of no better candidate to fill this key financial leadership position.”
Morissette said he looks forward to leading the finance team of the Timex Group objectives and helping it become “an even more aligned global company.”
Timex Group, owned by a Norwegian family and headquartered in Middlebury, Conn., has more than 6,000 employees worldwide. It traces its origins to 1854 and has been designing, manufacturing and selling timepieces for more than 150 years. Its brands include Timex, TX, Timex Ironman, Timex Expedition, Valentino, Salvatore Ferragamo, Vincent Berard, Versace, Versus, Guess, GC, Marc Ecko, Nautica, Opex, Helix, and Avirex.