(Rapaport…May 7, 2003) Alain Dominique Perrin, chief executive officer of Richemont, has announced his intention to retire in October 2003 on his 61st birthday. He will remain with the company in an executive role and will remain a member of the Strategic Product and Communications Committee, responsible for unspecified strategy and marketing issues. He will also be nominated to the board of Compagnie Financiere Richemont SA, the group’s parent company.
Perrin has been with Richemont for over thirty years and is credited with revitalizing the Cartier brand, effectively becoming “Mr. Cartier.” He cited exhaustion and the need for more time for his family and for other activities, including winemaking, as the reason for his departure.
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