Richemont has re-established the role of chief executive after almost a decade as the Swiss luxury group navigates a market downturn.
The group, which is chaired by its controlling shareholder Johann Rupert, said Nicolas Bos, the head of its jewellery brand Van Cleef & Arpels, would take up the position on June 1. He will report to Rupert.
“Building on Richemont’s expanded scale and stronger focus on retail and jewellery, Nicolas will steer the group through the next phase of its evolution,” Rupert said. “The re-established CEO role will help streamline decision making and optimise operational management.”
The decision to reinstate the role came as Richemont reported a slowdown in fourth-quarter sales.