Richemont Replacing Four Watch CEOs

New leaders coming to Jaeger-LeCoultre, Alfred Dunhill, Vacheron Constantin, and Piaget

Richemont is switching CEOs at four of its watch brands: Jaeger-LeCoultre, Alfred Dunhill, Vacheron Constantin, and Piaget, according to a report in Bloomberg.

The news agency said that Andrew Maag, Burberry Group Plc’s head of Europe, Middle East, India, and Africa, will replace Fabrizio Cardinali at Dunhill. A Dunhill spokesperson has since confirmed the news to Reuters.

Daniel Riedo, head of Jaeger-LeCoultre, will leave at the end of February, the Bloomberg report said. George Kern, head of watchmaker IWC, will serve as interim CEO for that brand, and eventually take over as head of Richemont’s watch division, it added.

Meanwhile, Juan-Carlos Torres, the head of Vacheron Constantin, and Piaget CEO Philippe Leopold-Metzger, will both retire, according to the report, though they will remain as non-executive presidents.

Richemont could not be reached for comment at press time.

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