Ad hoc announcement pursuant to art. 53 LR

Richemont announces today that, effective 10 November 2023, Karlheinz Baumann will join the Group’s Senior Executive Committee (SEC) in his capacity as Group Director of Operations, in charge of Manufacturing, Research & Innovation, Customer Service, Logistics & Supply Chain, Indirect Procurement, Responsible Sourcing and Security.

Karlheinz Baumann will continue to report to Jérôme Lambert, Chief Executive Officer of Richemont and a Director on the Board of Compagnie Financière Richemont SA.

Karlheinz Baumann brings 27 years of experience, primarily in production, R&D and supply chain excellence across the luxury and automotive industries. Mr Baumann began his career in 1996 as a McKinsey consultant in Germany before becoming an Executive Director at the German automotive supplier, Wilhelm Karmann, in 2003. In 2008, he moved to Switzerland to join the Richemont Maison, IWC Schaffhausen, as COO. In 2016, Mr Baumann was promoted to the Group position of Industry & Services Director and then in 2023 to Group Director of Operations.

A dual German and Swiss national, Karlheinz Baumann graduated from the Technical University of Munich with a Master’s degree in Physics (1995). He also holds an MBA from the Kellogg Graduate School of Management, US (1999).

Commenting on the appointment, Johann Rupert, Chairman, said:

“I am delighted to have Karlheinz Baumann join Richemont’s Senior Executive Committee. In his 15-year tenure at Richemont, Karlheinz has successfully transformed the operations first at IWC Schaffhausen and then across the organisation as Group Director of Operations, building on his deep expertise acquired as a former senior executive in the automotive industry and at McKinsey.

His well-rounded experience and knowledge of the Group will be crucial in advancing the Group’s decisions on the increasing digitalisation, flexibility and resilience of our operations including in manufacturing and in distribution, notably relating to ‘Luxury New Retail’. Other key areas for his contribution will relate to responsible sourcing and innovation as a means to achieve sustainable growth.”

About Richemont

At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, AZ Factory, Chloé, Delvaux, dunhill, Montblanc, Peter Millar including G/FORE, Purdey, Serapian as well as Watchfinder & Co. In addition, Richemont operates NET-A-PORTER, MR PORTER, THE OUTNET, YOOX and the OFS division.

Richemont ‘A’ shares are listed and traded on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. The ‘A’ shares are also traded on the Johannesburg Stock Exchange, Richemont’s secondary listing.

Investor/analyst and media enquiries

Sophie Cagnard, Group Corporate Communications & Investor Relations Director
James Fraser, Investor Relations Executive
Investor/analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com