The Swiss luxury group Richemont announced several changes to its non-executive board this week and created two new positions: corporate affairs director and CEO of a newly created fragrance division. Both will join the group’s Senior Executive Committee. It is great news that Richemont is boosting its corporate governance and has made fragrance a new area of focus. The move mirrors similar efforts by the rival French group Kering which is investing heavily in this promising category.
Richemont will not stop there. More top management changes are on the cards, particularly at Richemont’s Specialist Watch Makers’ division and at jeweler Buccellati, Miss Tweed found out. Some bosses are on their way out while others are preparing to move to another brand within the group, several industry sources said.
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