Richemont has appointed a new group chief executive and overhauled the role as the Swiss luxury group navigates a market downturn.Nicolas Bos, the head of its jewellery brand Van Cleef & Arpels,
Richemont already has a chief executive, Jérôme Lambert, but his role has a more limited remit than the one Bos will take on since the heads of top brands including Cartier and Van Cleef, and the group’s head of finance, did not report to him. He will remain on the board and become chief operating officer.Rupert, 73, also said that Cartier chief executive Cyrille Vigneron, 63, was working with him to identify and prepare his succession as he approaches retirement age.
Bos joined the group more than three decades ago. He started at Van Cleef in 2000, before rising through the ranks to become president and chief executive in 2013. He has also overseen jeweller Buccellati since 2019. “With Nicolas Bos appointed to group CEO, Jérôme Lambert becoming COO, and a new deputy chairman, discussions around succession might resurface,” wrote Thomas Chauvet, analyst at Citi.