Grinberg Named Movado CEO

Grinberg Named Movado CEO Efraim Grinberg, president of the Movado Group, recently was named chief executive officer of the company. Rick Coté, executive vice president, has been promoted to chief operating officer. Efraim’s father, Gedalio Grinberg, will remain chairman of the board.

Efraim Grinberg, 43, has been president and chief operating officer since 1990 and oversaw the company’s initial public offering in 1993. Since then, he has been responsible for expanding it into a $320 million enterprise. Initiatives included licensing and launching Coach Watches and Tommy Hilfiger Watches; introduction of its boutiques; and significantly developing the company’s international markets.

Coté, 46, joined Movado in January 2000 as executive vice president of finance and administration. Previously, he was with Colgate-Palmolive, most recently as vice president and chief financial officer of U.S. operations. Since joining Movado, he has been responsible for improving its operations and for relocating its distribution center to a new, state-of-the-art facility.

Movado Group Inc. designs, manufactures, and distributes Movado, Concord, ESQ, and Coach watches worldwide, and this year launched Tommy Hilfiger watches. It also operates Movado boutiques and stores.