2 JULY 2024

RICHEMONT APPOINTS LOUIS FERLA

AS CHIEF EXECUTIVE OFFICER OF CARTIER

Richemont today announced that Louis Ferla, currently Chief Executive Officer of Vacheron Constantin, will succeed Cyrille Vigneron as Chief Executive Officer (CEO) of Cartier, effective 1 September 2024. Mr Vigneron, who has decided to retire after eight successful years at the helm of the Maison, will assume the position of Chairman of Cartier Culture & Philanthropy effective 1 September 2024 and work with Mr Ferla to ensure a smooth transition.

Mr Ferla, a French national, joined Richemont in 2001 starting at Alfred Dunhill as Area Sales Manager in Hong Kong and then as general manager in Taipei. In 2006 he joined Cartier, where he held various senior executive positions, namely across the Middle East, India and Africa before being appointed CEO in China. In 2015, he was promoted to the jewellery Maison's executive committee as International Director Clients & Business. Mr Ferla has been CEO of Vacheron Constantin since 2017.

Commenting on Louis Ferla's appointment, Johann Rupert, Chairman of the Board, said:

I am delighted that Louis has accepted to take on the top role at Cartier. He has earned the admiration and respect of his colleagues across the Group and of the industry at large for having so brilliantly positioned Vacheron Constantin at the pinnacle of Haute Horlogerie. His experience and leadership qualities will prove invaluable for Cartier's long-term success.

I would like to express my gratitude to Cyrille for his vision and bold leadership over the last 8 years, under which Cartier has reached new heights becoming the reference in the world of luxury. I would also like to thank Cyrille for helping identify Louis as his successor. I wish Cyrille all the best in his new role, where I know he will be working on topics that he has always felt passionate about."

Nicolas Bos, CEO of Richemont, added:

I have always admired Louis' strategic vision and inspiring management style, which have served him well in turning Vacheron Constantin into one of the world's leading luxury watchmakers. I look forward to seeing Cartier continue to thrive under his leadership."

Cyrille Vigneron added:

We are delighted to welcome Louis back to Cartier. His outstanding leadership skills, exceptional business acumen and deep affinity for our Maison make him the ideal candidate for the role. I look forward to working with Louis in my new role."

About Richemont

At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont's ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, AZ Factory, Chloé, Delvaux, dunhill, Gianvito Rossi, Montblanc, Peter Millar including G/FORE, Purdey, Serapian as well as Watchfinder & Co. In addition, Richemont operates NET-A-PORTER, MR PORTER, THE OUTNET, YOOX and the OFS division. Find out more at https://www.richemont.com/.

Richemont 'A' shares are listed and traded on the SIX Swiss Exchange, Richemont's primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. The 'A' shares are also traded on the Johannesburg Stock Exchange, Richemont's secondary listing.

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END) Dow Jones Newswires

July 02, 2024 01:32 ET (05:32 GMT)