This month luxury watchmaker Jaeger-LeCoultre announced that Daniel Riedo has taken over the Chief Executive Officer post for the Manufacture Jaeger-LeCoultre. Riedo has been with the Swiss manufacture, which is owned by luxury conglomerate Richemont, since January 2011 as Industrial Director.
Riedo came to Richemont after twelve years with the Rolex Group. The 53-year-old, who studied both corporate management and engineering at the University of Geneva, comes to Jaeger-LeCoultre at a time of change. The manufacture just marked its 180th anniversary, and has looked to amplify its international presence, including the enlargement of its Place Vendôme flagship store in Paris. The manufacture also helped Richemont achieve an 18% increase in sales from its specialist watchmakers’ division last year.
Jérôme Lambert, the outgoing CEO of Jaeger-LeCoultre, was moved to Montblanc earlier in the year by the Board of Directors at the Compagnie Financière Richemont SA. The luxury conglomerate also owns Baume & Mercier, Vacheron Constantin, Van Cleef & Arpels, IWC, Lange & Söhne, Officine Panerai, Piaget and Roger Dubuis.
Photo courtesy Jaeger-LeCoultre.