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UPDATE 1-Richemont fashion and accessories head steps down
May 21, 2013 / 7:21 AM / 5 years ago

UPDATE 1-Richemont fashion and accessories head steps down

(Adds Fornas to take on portfolio)

ZURICH, May 21 (Reuters) - Richemont said Marty Wikstrom was resigning as chief executive of its fashion and accessories businesses, the latest in a string of recent management changes at the world’s second-biggest luxury group.

The maker of Cartier watches said Wikstrom, who has held the position since 2009, was resigning from the position with immediate effect but would stay on as a board member until a shareholder meeting on Sept. 12.

Richemont said Wikstrom had positioned the fashion and accessories business for further growth, overseeing the strategic development of brands including Alfred Dunhill, Azzedine Alaia, Chloe and Lancel. It gave no reason for her departure.

Richemont said Bernard Fornas, who took over as co-CEO along with Richard Lepeu in April, would take over the portfolio for the time being.

Richemont’s chairman and founder Johann Rupert announced last week he would take a year off from September, leaving the luxury group in the hands of Fornas and Lepeu at a time of faltering growth in key market China.

Earlier this month, Richemont appointed new chief executives to two of its brands, naming Jerome Lambert as head of its Montblanc pens business and Daniel Riedo at the Jaeger-LeCoultre watch manufacturer. (Reporting by Emma Thomasson; Editing by David Cowell and Helen Massy-Beresford)

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