Richemont said Tuesday that Louis Ferla, currently CEO of Vacheron Constantin, will succeed Cyrille Vigneron as CEO of Cartier, effective September 1. Vigneron will retire after eight years at the helm of the renowned luxury brand.
Vigneron will assume the position of chairman of Cartier Culture & Philanthropy, effective September 1, and will work with Ferla to ensure a smooth transition, Richemont said in a statement.
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 of China. In 2015, he was promoted to Cartier’s executive committee as international director clients and business. Ferla has been CEO of Vacheron Constantin since 2017.
In the statement, Johann Rupert, Richemont’s chairman said Ferla “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.”
Rupert added, “I would like to express my gratitude to Cyrille for his vision and bold leadership over the last eight 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.”
In the same statement, Vigneron said: “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.”
This is the latest of several management changes to Richemont during the past year. Most recently, Richemont, named Nicolas Bos, the former longtime CEO of Van Cleef & Arpels, to the reestablished role of Richemont CEO, after the position was vacant for nearly a decade.
Bos, who took over the CEO position on June 1, welcomed Ferla to Richemont.
“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.”
Other changes to Richemont’s management structure during the past year included:
- The appointment of Bram Schot, an independent non-executive director of Shell, as non-executive deputy chairman of the Richemont board, effective September 11.
- The promotion of Karlheinz Baumann to Richemont’s senior executive committee as group director of Operations, in charge of Manufacturing, Research & Innovation, Customer Service, Logistics & Supply Chain, Indirect Procurement, Responsible Sourcing and Security.
- In May 2023, Richemont, named Fiona Druckenmiller, a U.S.-based vintage jewelry dealer, former Wall Street financier and philanthropist, as a non-executive director.
This article was first published on forbes.com and all figures are in USD.
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