Richemont’s COO resigns

Richemont’s chief operating officer, Yannick Lakhnati, has resigned and will leave the group on May 31, 2005, the company said on Tuesday.

The Swiss-listed luxury goods group said that Lakhnati is leaving for personal reasons and will return to South Africa. He joined Richemont in 2003 as the group’s chief executive officer.

No decision has been regarding Lakhnati’s replacement, the company said.

“I am sorry that Yannick has decided at this time to return home to South Africa. He has contributed significantly to the Group’s performance since his appointment. We wish him every success for the future,” said Richemont CEO Norbert Platt

Richemont owns several leading international luxury brands in watches and jewelry including Cartier, Van Cleef & Arpels, Alfred Dunhill, Montblanc and Lancel, Jaeger-LeCoultre, Piaget, Baume & Mercier, IWC, Vacheron Constantin, A. Lange & Söhne, and Officine Panerai.