Richemont announces the appointment of Karlheinz Baumann to the Executive Committee.
Karlheinz Baumann will join the Group's Executive Committee as Group Operations Director, in charge of Manufacturing, Research and Innovation, Customer Service, Logistics and Supply Chain, Indirect Purchasing, Responsible Sourcing and Safety.
Karlheinz Baumann has 27 years' experience, mainly in production, R&D and supply chain in the luxury and automotive sectors.
In 2016, Mr. Baumann was appointed to the position of Group Vice President Industry and Services, and in 2023 to the position of Group Chief Operating Officer.
Johann Rupert, Chairman of the Board of Directors, said: ' During his 15 years at Richemont, Mr. Karlheinz has successfully transformed operations, first at IWC Schaffhausen and then across the organization as Group COO, drawing on his extensive expertise gained as a former senior executive in the automotive industry and at McKinsey'.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
Compagnie Financière Richemont SA is a world leader in luxury products. Net sales break down by family of products as follows:
- jewelry items (42.2%): the brands Cartier (world No. 1 in jewelry), Van Cleef & Arpels, and Giampiero Bodino;
- luxury watches (31.1%): Piaget, A. Lange & Söhne, Jaeger-LeCoultre, Vacheron Constantin, Officine Panerai, IWC Schaffhausen, Baume & Mercier and Roger Dubuis brands;
- other (26.7%): primarily pens, fine leather goods articles and clothing under the following brands: Montblanc, Chloé, Old England, Purdey, and Alfred Dunhill.
Net sales break down by activity between retail distribution (57.6%), wholesale distribution (23.7%) and online distribution (18.7%).
Net sales are distributed geographically as follows: Switzerland (2.4%), the United Kingdom (5.3%), Europe (15.6%), China (28.9%), Japan (6.3%), Asia (11.9%), the States United (19.9%), Americas (2.3%), Middle East and Africa (7.4%).
COMPAGNIE FINANCIERE RICHEMONT 
