Siragusa Out as President of Maurice Lacroix USA

Robert Siragusa in late August unexpectedly left his post as president of Maurice Lacroix USA, the U.S. subsidiary of the upscale Swiss watch brand. Siragusa established the brand in the United States in 1994 and built a network of more than 400 jewelers that carry it. An Aug. 22 letter sent to the brand's U.S. retailers says, "Effective Aug. 22, 2003, Mr. Robert Siragusa will no longer serve as president of Maurice Lacroix USA Inc." The letter was sent under the name of Philippe C. Merk, chief executive officer of the Maurice Lacroix Group in Zurich, Switzerland. The change wasn't completely unexpected. There had been rumors at the Jewelers of America Show in New York City (July 27-30) that Maurice Lacroix was seeking a replacement for Siragusa. Merk's letter gave no reasons for the change. However, a settlement agreement reached later in the month between Siragusa and the watch c
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