Yesterday luxury conglomerate Richemont announced a shakeup in the management of two of its luxury watch brands. The Board of Directors at the Compagnie Financière Richemont SA confirmed that Jérôme Lambert, the CEO of Jaeger-LeCoultre, has been appointed to Montblanc as its new Chief Executive Officer of Montblanc.
Lambert’s appointment comes in the wake of news that Lutz Bethge, the current CEO of Montblanc International, is moving to a position as non-executive Chairman and Head of Supervisory Board of Montblanc. In this capacity, Mr Bethge will represent the Maison externally and will be an advisor on strategic matters. He will step down from operational business and from the Group Management Committee effective June 30.
Meanwhile Lambert will remain a member of the Group Management Committee. Montblanc’s new management organisation will be effective from 1 July 2013. Daniel Riedo, the current Industrial Director of Jaeger-LeCoultre, will succeed Lambert as Chief Executive Officer of Jaeger-LeCoultre.
During Bethge’s 23-year tenure, Montblanc became a serious player in the haute horlogerie industry, transitioning from a traditional writing instrument manufacturer to a strong luxury Maison.
The Compagnie Financière Richemont SA also owns Baume & Mercier, Vacheron Constantin, Van Cleef & Arpels, IWC, Lange & Söhne, Officine Panerai, Piaget and Roger Dubuis.
Jaeger-LeCoultre CEO Jérôme Lambert (at left) is pictured above with Aston Martin CEO Ulrich Bez during the manufacture’s 180th anniversary celebration. Photo courtesy Jaeger-LeCoultre