What's With Richemont Group ?

[Nivarox]

One of the biggest Swiss Giants Richemont already announced to abolish CEO postion but as if it was not enough a big change or shake off they also decided to replace CEOs of 4 major brands . Among them Dunhill, Piaget , Jaeger Le Coultre and Vacheron Constantin .
Frankly, the biggest news for me was to hear retirement for the last brand as Vacheron Constantin seemed to do good job and his CEO seemed to someone who knows how to deal with the market demands

A quick excerpt from Hodinkee

The CEOs of all four of these brands will be stepping down (though who is doing so voluntarily is obviously a mystery), but only Dunhill is receiving an immediate replacement in Andrew Maag, head of Europe, Middle East, India, and Africa for fashion brand Burberry. Jaeger-LeCoultre CEO Daniel Riedo is leaving at the end of February "for other opportunities," while both Piaget CEO Philippe Leopold-Metzger and Vacheron Constantin CEO Juan-Carlos Torres are retiring. Both Leopold-Metzger and Torres will remain non-executive presidents, according to Bloomberg's source. Georges Kern, who ascended to become head of watchmaking for all of Richemont, will act as interim CEO of Jaeger-LeCoultre, though the plan for the other two brands is not yet known.
These are times of change for the watch industry and these are neither the first nor the last shake-ups we expect to see in 2017. Obviously 2016 was a tough year and those at the top of the industry are clearly not sitting back expecting things to get better on their own.

[porshah]

Watch industry is struggling a bit. Stability at the top would be better than this route.

I always thought Jerome Lambert had done a great job as CEO of JLC. He is now with MontBlanc.