Lutz Bethge, CEO of luxury brand Montblanc International, will leave the post to serve as non-executive chairman and head of the Supervisory Board of Montblanc. He will be replaced July 1 by Jérôme Lambert, CEO of Jaeger-LeCoultre. Also at that time Daniel Riedo, currently Industrial director of Jaeger-LeCoultre, will become the luxury watch brand’s CEO.
The announcements were made Wednesday by luxury holding company, Richemont, which owns both brands.
In his new position, Bethge will represent Montblanc externally and will be an advisor to the luxury brand on strategic matters. Bethge has spent 23 years in various roles with Montblanc, becoming CEO in 2007. He is credited for moving the luxury brand from a traditional writing instrument manufacturer to a diverse luxury brand, adding watches, leather goods and jewelry to its product line.
“The Maison has been recognized as a legitimate player in the watch business, providing continued and significant growth,” Richemont said in its statement.
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