As per a statement issued by luxury conglomerate Richemont, Georges Kern has resigned as head of watchmaking, marketing and digital. The surprising change takes effect immediately, and comes just several weeks after Kern assumed his new position. Kern was previously CEO of IWC for several years.
Kern has also stepped down from the Senior Executive Committee and the Group Management Committee, and will no longer be standing for election to the Board of Directors of Compagnie Financière Richemont SA at the forthcoming annual general meeting of shareholders.
Speaking about Kern’s decision, Johann Rupert, Chairman of Richemont, said: “Georges has been offered an interesting opportunity to become an entrepreneur. He has had a very successful career at IWC Schaffhausen and we wish him well.”
Richemont’s watchmaking, marketing and digital activities will now report to the Senior Executive Committee.
Read the Richemont statement here.