Former Hermès CEO Patrick Thomas to Join Board of Richemont – WWD

Patrick Thomas, a former CEO of Hermès Worldwide, and Jasmine Whitbread, an government with in depth experience on ESG points, have been nominated to the board of Compagnie Financière Richemont SA.

Their appointments are topic to the approval of shareholders at Richemont’s annual common assembly on Sept. 8. Whitbread and Thomas are to function non-executive administrators and turn out to be members of the board’s nominations committee, Richemont mentioned in an advert hoc announcement on Thursday morning.

The corporate had beforehand flagged plans to evolve its governance.

Earlier this month, Richemont mentioned Cyrille Vigneron, president and chief government officer of Cartier, and Nicolas Bos, president and CEO of Van Cleef & Arpels, would step down from the senior government committee and never search reelection to the board of administrators, whereas persevering with to report on to Richemont chairman Johann Rupert.

“The excellent improvement of Cartier and Van Cleef & Arpels, particularly, signifies that these companies have reached a measurement and scale that require the complete consideration of their leaders and help of the group to proceed on their exceptional trajectory,” Rupert defined on the time. “These governance adjustments will permit Maison and enterprise executives to focus solely on their prospects, colleagues, companions and the sustainable improvement of their entities at a time when the world is altering quickly and rising in complexity.”

On Thursday, Richemont famous that non-executive director Gary Saage wouldn’t search re-election to the board of administrators subsequent month. He was appointed to the board in 2010 when he turned group chief monetary officer of Richemont, and has since served as a non-executive director and a member of the nominations committee.

Saage is to retain his place as chairman of Richemont North America and a director of Peter Millar LLC.

Richemont additionally famous that non-executive administrators Jan Rupert and Ruggero Magnoni wouldn’t search re-election on the 2022 AGM.

“I want to warmly thank Gary for his appreciable contributions to the group together with the board and the dedication and collegiality he has displayed over time,” Johann Rupert mentioned in an announcement. “His institutional information and understanding of the problems confronted by the group have contributed enormously to Richemont’s continued success.”

As for the additions of Thomas and Whitbread, Rupert mentioned “each convey unmatched expertise and experience in areas of nice significance to the group. I’m sure that Jasmine’s concentrate on ESG and Patrick’s profitable profession in mushy luxurious will probably be invaluable as we embark on the following stage of our improvement.”

Richemont not too long ago added to its leather-based items holdings by buying Belgian purse specialist Delvaux.

Whitbread is at present non-executive chair of Travis Perkins PLC, a non-executive director of Commonplace Chartered PLC and WPP PLC, a visiting fellow at Oxford College and an advisor to Richemont’s governance and sustainability committee. She has beforehand served as CEO of Save the Youngsters Worldwide and London First.

Thomas was CEO at Hermès from 2003 till 2014 and was the primary and solely non-family supervisor of the French luxurious model. He had been its chief working officer from 1989 to 1997. Earlier than that, he held senior administration roles at Lancaster Group and Pernod Ricard.

At current, Thomas is chairman of the supervisory board of Champagne maker Laurent Perrier, chairman of the supervisory board of Ardian, lead unbiased director of Teleperformance, non-executive director of MycoWorks, and non-executive director at Shang Xia.

See additionally:

Richemont Grows Leather Goods With Delvaux Purchase

Richemont Nabs LVMH Veteran to Head Fashion Division

Richemont’s Q1 Sales Jumped 22% Ahead of 2019 | Former Hermès CEO Patrick Thomas to Be a part of Board of Richemont – WWD


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