CEO appointment at Richemont

Cartier’s parent company Richemont has appointed group stalwart Jerome Lambert as its new CEO. 

The move comes as the company seeks to adapt to shifting consumer habits and boost the performance of its stable of watch brands, which also includes IWC, Panerai and Jaeger-LeCoultre.

Lambert, who was previously the group’s chief operating officer, steps into a role that was eliminated a year and a half ago when Richard Lepeu retired. 

At the time, he was very much in the running for the top job, alongside Georges Kern, who famously left to head up Breitling.

Richemont’s chairman Johann Rupert stated that Lambert will focus on “future growth at a time when consumer habits are changing significantly.”

The announcement coincided with Richemont’s report of a 10% rise in sales for the five months ending August 31, driven by strong performance from its jewellery brands, Cartier and Van Cleef & Arpels. 

While sales were up in most regions, the group’s watch brands saw only a 4% increase, as the company continues to manage unsold stock.