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Rupert's luxury watch chief quits Richemont, buys stake in rival Breitling

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The outburst from Johann Rupert at the Annual General Meeting of Remgro  are at last, switching on some lights where it really matters.
The outburst from Johann Rupert at the Annual General Meeting of Remgro are at last, switching on some lights where it really matters.
Rapport

Zurich - Swiss luxury-goods maker Richemont’s head of watchmaking, once seen as a candidate to lead the entire company, is leaving less than four months after a management reorganisation put him in control of a portfolio of brands stretching from IWC Schaffhausen to Vacheron Constantin.

Georges Kern, a 17-year Richemont [JSE:CFR] veteran, resigned with immediate effect to pursue another opportunity, the Geneva-based company said in a statement on Friday. Kern bought a stake in rival watchmaker Breitling and plans to help that brand revive itself, Le Temps said, citing several people it didn’t name.

Richemont said it regrets the loss and didn’t name a replacement.

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