Richemont Names Joint CEOs to Replace Johann Rupert

Johann Rupert to step down as
executive chairman and CEO.

The Board of Compagnie Financière Richemont SA announced Friday that it has approved a number of senior management changes, culminating with a change at the top of the company’s management structure. The announcement came as the luxury goods conglomerate reported a 21 percent increase in sales and a 52 percent increase in profit for the first half of the fiscal year.

Bernard Fornas, currently Cartier CEO, and Richard Lepeu, currently Richemont deputy CEO, will become joint CEOs of Richemont on April 1, 2013, under a succession plan that begins to go into effect on Jan. 1, 2013.

As previously announced, Stanislas de Quercize, currently CEO of Van Cleef & Arpels, will succeed Fornas as CEO of Cartier on Jan. 1, 2013. On the same date, Fornas and Lepeu will be appointed as joint deputy CEOs, reporting to Johann Rupert, executive chairman and CEO.

Rupert returned to the role of Richemont CEO when Norbert Platt, who held the position, took early retirement due to ill health in 2010. Rupert will step down from that role on March 31, 2013.

The following day, Fornas and Lepeu will become joint CEOs. Fornas will oversee Richemont’s maisons while Lepeu will continue to oversee Richemont’s central functions. Fornas and Lepeu together with Gary Saage, CFO, will form a senior executive committee for Richemont.

In addition, the Board approved certain changes to Richemont’s Group Management Committee.

The following executives will join the Group Management Committee, effective immediately: Lutz Bethge, CEO of Montblanc; Hans-Peter Bichelmeier, Group Operations director; Stanislas de Quercize; Georges Kern, CEO of IWC Schaffhausen; Jérôme Lambert, CEO of Jaeger-LeCoultre; and Philippe Léopold-Metzger, CEO of Piaget.

The following executives will retain their responsibilities but, reflecting the changed role of the Group Management Committee, will resign from the committee by the end of the current financial year: Giampiero Bodino, Group art director; Alan Grieve, director of Corporate Affairs; Mr Eloy Michotte, corporate finance director; and Jan Rupert, executive director.

Richemont, based in Geneva, owns many of the world’s best-known luxury brands (called “maisons” by the company) including Cartier, Montblanc, Vacheron Constantin, Van Cleef & Arpels and Piaget. It also has wholesale businesses and owns the luxury retail website, Net-A-Porter.com. A list of its businesses can be found by following this link.

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Gemvara Names Janet Holian CEO

Janet Holian

Gemvara, an online retailer of customizable fine jewelry, said Tuesday that it has extended Janet Holian’s role as interim CEO to a permanent position.

In Holian’s permanent role as CEO, “she will focus on distinguishing the Gemvara brand and seeing out founder Matt Lauzon’s vision to show consumers that jewelry customization leads to pieces that are uniquely personal and valued,” the company said in a statement.

The company added that Lauzon, "knew from the start of their professional relationship that she was the best person to lead the burgeoning jewelry company."

Prior to joining Gemvara in 2011, Holian spent 11 years at Vistaprint as president of the company’s European business, executive VP and chief marketing officer of Vistaprint USA, and various marketing roles for the corporation since being hired in 2000. 

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Frederic Cumenal Named President of Tiffany & Co.

Frederic Cumenal

Tiffany & Co. said Tuesday that it has named Frederic Cumenal as president and also appointed him to a newly-created seat on the company’s board of directors.

Cumenal, who was executive vice president responsible for international retail, joined the luxury retail jeweler in March 2011 as executive vice president with oversight for the Asia-Pacific, Japan, Europe and emerging markets. In 2012, the Americas region was added.

Prior to joining Tiffany he held senior leadership positions at LVMH Group, most recently as president and chief executive officer of Moët & Chandon.

“Frederic has made important contributions to the operational and strategic development of our business,” said Michael J. Kowalski, Tiffany chairman and CEO. “He has brought a global luxury perspective to our brand management initiatives and, in particular, has led the evolution of our regional organizations to support our continued worldwide expansion.”

In his new role, Cumenal, 54, will retain his regional responsibilities and will assume responsibility for Tiffany’s  design, merchandising and marketing functions. He will continue to report directly to Kowalski.

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Pandora Names Anders Colding Friis as CEO, Peder Tuborgh as Board Chair

Anders Colding Friis 

Danish jewelry company Pandora is going through another round of leadership changes as it plans to appoint a new CEO and board chairman in the coming months. 

The company said Thursday that it will name tobacco company executive Anders Colding Friis as its fifth CEO since the company went public in 2010. He will succeed current CEO Allan Leighton in March 2015. 

Allan Leighton

In addition, Pandora said it plans to make Peder Tuborgh chairman of its board of directors in October. He will replace Marcello Bottoli, who announced previously that he will step down due to other professional commitments. 

The Denmark-based company with manufacturing facilities in Thailand is known for its popular charm jewelry and other affordable jewelry pieces. It is also known for raising approximately $2.1 billion in its IPO in October 2010, for incredible sales growth during its first three quarters as a publicly traded company followed by a sudden approximate 65 percent decline in its stock price based on a company report that dramatically reduced its outlook. 

The company has experienced steady growth in sales and stock value since then but its top executive position continues to be in constant change. 

Peder Tuborgh

In this case it appears Leighton’s turn as CEO was planned as a temporary move. He was already chairman of the jewelry company when he replaced Bjørn Gulden as CEO in July 2013. Gulden accepted a position as CEO of athletic apparel company, Puma. Bottoli also served a stint as CEO during the company’s time of turmoil.

Friis, 51, is a Danish citizen and since 2006 has been the Group CEO of Scandinavian Tobacco Group, the world’s largest manufacturer of cigars and pipe tobacco. He also is chairman of Monberg & Thorsen, deputy chairman of IC Companys, board member of Topdanmark and Confederation of Danish Industry.

Marcello Bottoli

Leighton will step down from his role as CEO after reporting Pandora’s full year results for 2014. At the next annual general meeting, Leighton is expected to be named the company’s co-deputy chairman of the board.

Tuborgh, 51, is a Danish citizen who holds an MBA from Odense University and has held a series of management positions in Arla Foods, an international dairy company, before becoming group CEO in 2005. He is also deputy chairman of Aarhus University and board member of Royal Greenland.

“A managed succession at the top of the company, at a time when its performance and opportunities have never been stronger, has been a key objective for the board,” Bottoli said. “I am delighted with the result and to have been an active part of this.”

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Blue Nile Chairman to Step Down As Company Posts 5th Consecutive Quarter of Double-Digit Growth

Blue Nile Starlight Diamond Eternity Ring in platinum

Blue Nile, Inc. said Thursday that year-over-year net sales increased 18.7 percent to $108 million for the second quarter ended June 30. Operating income for the quarter totaled $3.4 million, representing an operating margin of 3.2 percent of net sales. Net income totaled $2.2 million, or $0.17 per diluted share. It’s the fifth consecutive quarter of double-digit growth, the company said.

In addition, the Seattle-based online retailer that specializes in diamonds and diamond jewelry announced that its founder, Mark Vadon, will step down from his role as chairman and director of the board effective December 31. Blue Nile President and CEO Harvey Kanter will assume the role of chairman.

"Founding and being a part of Blue Nile for the past 14 years has been a great honor, and I am tremendously proud of the entire team for fostering our culture of innovation and obsession over each and every customer," Vadon said. "After working with Harvey and his leadership team over the last year and seeing the impressive growth trajectory of the business, the entire board and I feel confident passing the chairmanship to Harvey to continue to build a global consumer brand."

"Mark revolutionized the diamond industry and founded Blue Nile on the principle that there is a better way to buy diamonds and fine jewelry by offering unique online tools, high quality diamonds, and incredible values," Kanter added. "That is and will always be his legacy, and the company will continue to execute his vision."

Non-GAAP adjusted EBITDA for the quarter totaled $5.5 million. For the trailing 12-month period ended June 30, net cash provided by operating activities totaled $26.1 million compared to $18.7 million for the prior 12-month period. For the same period ended June 30, non-GAAP free cash flow totaled $22.9 million, as compared to $15.6 million for the prior.

Other second quarter highlights include:

* U.S. engagement net sales increased 22 percent to $63.9 million.

* U.S. non-engagement net sales increased 11.3 percent to $27 million.

* International net sales increased 19.1 percent to $17.1 million. Excluding the impact from changes in foreign exchange rates, international net sales increased 20.6 percent.

*Gross profit totaled $20.1 million. As a percent of net sales, gross profit was 18.6 percent compared to 18.9 percent for the second quarter of 2012.

* Selling, general and administrative expenses were $16.7 million, compared to $14.9 million in the second quarter of 2012. This figure includes stock-based compensation expense of $1.3 million for the second quarter in 2013 and 2012.

* Earnings per diluted share included stock based compensation expense of $0.07 compared to $0.06 for the second quarter of 2012.

* At the end of the quarter, cash and cash equivalents totaled $47.3 million.

In its financial guidance, Blue Nile said it expects third quarter net sales are expected to be between $96 million and $100 million; and earnings per diluted share to run from $0.13 to $0.17.

For the 2013 fiscal year, net sales are projected to be between $440 million and $470 million; and earnings per diluted share are projected at $0.75 to $0.85.

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Mauboussin Appoints Thierry Chaunu As CEO

Thierry Chaunu

Luxury jewelry brand, Mauboussin, has named Thierry Chaunu as its new CEO for North America and the exclusive agent for Mauboussin North America, covering the US, Canada, Mexico and the Caribbean. He will be based at the company's flagship boutique on Madison Avenue and 63rd St., where he will lead the brand's expansion in jewelry, watches, fragrance, writing instruments, sunglasses and gifts.
 
Chaunu, considered one of the luxury goods industry's foremost experts and spokespersons, was most recently the CEO for North and South Americas for the Italian jewelry brand Damiani. He has 30 years of experience developing and expanding leading luxury brands.

Mauboussin, founded in 1827, is the second oldest jewelry brand at the famed Place Vendôme in Paris.

Chaunu began his jewelry career in the 1980s with Cartier as senior product manager in Paris, before being promoted and transferred to New York as VP of Marketing. In 1991 he joined Christofle as North America president, opening dozens of stores and retail corners. In 1999, he became president North America at Chopard where he opened several freestanding boutiques, key independent jewelry retailers and department stores, as well as establishing the brand at awards shows and on the red carpets with celebrities. 

In 2005, Chaunu became president & COO of Leviev Worldwide and launched the brand as a premier provider of large and rare diamonds, opening flagship boutiques in London, New York, Moscow, Dubai and Singapore and developed a wide collection of complication timepieces. In 2010, building on that success, Chaunu created a collection of Swiss chronographs for racing supercars Spyker and revived the Marina B jewelry brand, originally founded by Marina Bulgari.

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Tiffany & Co. CEO Michael Kowalski to Retire; Frederic Cumenal Named as Successor

Michael J. Kowalski

Longtime Tiffany & Co. CEO, Michael J. Kowalski, will retire effective March 31, 2015, the luxury jewelry retailer announced Monday.Frederic Cumenal, Tiffany president, has been tapped to succeed him.

Kowalski, 62, joined Tiffany in 1983, became its in 1999 and assumed the role of chairman of the board in 2003. He will continue to serve on the board in the role of non-executive chairman following his retirement. 

“I am immensely satisfied by what we have accomplished at Tiffany over the past 30 years, and I am confident that the company is superbly positioned for the future,” Kowalski said in a statement. “Frederic Cumenal is ideally suited to succeed me as chief executive officer, and we will continue to work closely together to ensure a seamless transition.”

Cumenal, 54, was named Tiffany’s president in September 2013, with responsibilities for worldwide sales and distribution as well as design, merchandising and marketing functions. At that time he was also appointed to a newly created seat on the Tiffany’s board. Cumenal initially joined Tiffany in March 2011 as an executive vice president with responsibilities for sales and distribution. He will succeed Kowalski on April 1, 2015.

Frederic Cumenal

“This is an extraordinary company with a fantastic heritage and an exciting future,” Cumenal said. “I am deeply honored to be selected as its leader and look forward enthusiastically to capitalizing on the many opportunities ahead.”

Prior to joining Tiffany, Cumenal held senior leadership positions for 15 years in LVMH Group’s wine and spirits businesses, most recently as president and chief executive officer of Moët & Chandon, S.A. He previously served as CEO of Domaine Chandon, and was managing director of Moët Hennessy Europe.

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Daryl Wickstrom To Lead Sotheby’s International Jewelry And Watch Divisions

Sotheby’s on Friday named longtime executive Daryl Wickstrom as international managing director of Sotheby’s Worldwide Jewelry and Watch Divisions. In this newly-created role, he will be tasked with expanding activity and growing sales in these areas, which experienced record results in recent years, the New York-based multinational company said in a statement. 

Wickstrom will work closely with David Bennett, Lisa Hubbard and Quek Chin Yeow, the company’s three Jewelry chairmen, Tim Bourne, worldwide head of Watches, and Patti Wong, chairman of Sotheby’s Diamonds, the company said. He will oversee activities in North America, Europe and Asia, as well as the company’s expanding Sotheby’s Diamonds retail business and related private sales activity.

The announcement was made by Bruno Vinciguerra, Sotheby’s chief operating officer. 

Wickstrom joined Sotheby’s in 1996 and was appointed executive VP and deputy chairman, Asia, in July 2008. He was instrumental in developing the growth strategy in Asia and particularly Sotheby’s expansion in China. During his time in this role, total sales in Asia surpassed $1 billion in 2011.

From 2002 through 2008 Wickstrom served as managing director of Sotheby’s Global Auction Division. During his tenure, he orchestrated many significant single-owner sales and helped launch of Sotheby’s Diamonds retail venture in 2005, the company said.  

In 2013, Sotheby’s saw its highest-ever annual totals for its jewelry and watch categories, with worldwide Jewelry sales achieving $529 million, and worldwide Watch sales reaching $97 million. This spring, Sotheby’s set new benchmark prices for: any jadeite jewel and any jewel by Cartier (the Hutton-Mdivani Necklace, $27.4 million); any yellow diamond and any jewel by Graff (the Graff Vivid Yellow, $16.3 million); and any ruby (29.62-Carat Oval Burmese Ruby, $7.3 million). In addition, world auction records were set this spring at Sotheby’s for several iconic models by Patek Philippe: any Ref. 5207P ($867,000); any contemporary time-only watch by the firm ($737,000); any Celestial model ($545,000); and any Ref. 5033 ($509,000).

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Signet Replaces CEO for UK Division

Signet Jewelers said Tuesday that Rob Anderson, CEO of Signet's UK division, will leave the company at the end of July. He will be replaced by Sebastian Hobbs who has been promoted to the new position of managing director for the UK division, effective immediately. Hobbs will report to Mike Barnes, Signet CEO.

The Bermuda-based company is the largest specialty retail jeweler in the US and UK with approximately 1,952 stores (1,449 in the US and 503 in the UK). Its retail chains in the US include Kay, Jared and Ultra Diamonds. In the UK, it owns and operates the H.Samuel and Ernest Jones jewelry chains.

“Seb has made important contributions to our UK division and we believe his experience in UK retailing and strategy make him a perfect fit for this role,” Barnes said.

Hobbs joined Signet's UK division as commercial director in March 2011. From November 2006 till March 2011, he was commercial director of Blacks Leisure Group. Prior to this, he was trading controller for WH Smith, a retail consultant for KPMG, and held management positions at Mothercare and British Home Stores.

Signet’s UK division has been struggling since the financial crisis. In its 2013 fiscal year, the division reported that sales fell 0.8 percent to $709.5 million. Same store sales increased 0.3 percent compared to an increase of 0.9 percent in Fiscal 2012. Sales performance was primarily attributed to lower traffic particularly in the fourth quarter.

By contrast, US division sales for the 2013 fiscal year increased 7.9 percent to $3.27 billion. Same store sales increased 4 percent for the year compared to an increase of 11.1 percent in Fiscal 2012.

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Buccellati Appoints New CEO

The Buccellati 18k “Star Collection,” necklace and earrings made of more than 1,700 white and yellow diamonds and 20 pieces of Imperial jade.

Italian luxury jewelry brand, Buccellati, has named Thierry Andretta as its new CEO, according to reports.

Andretta, was most recently CEO of the French couture house, Lanvin, where he doubled sales to more than 236 million euros during his four-year tenure. Prior to Lanvin, he worked in senior positions at Ungaro, Céline, Moschino and Gucci Group.

Monday's announcement came less than four months after Italian private equity fund, Clessidra, took a majority stake in Buccellati, Reuters reports.

Buccellati is known for its signature lace rings and necklaces (many one of a kind) worn by monarchs and movie stars. Some of its pieces sell for more than $1 million. Members of its founding family still design many of its pieces. The company also is known for not routinely lending its jewelry to actresses on the red carpets at high-profile events such as the Cannes film festival or the Oscar ceremony.

Andretta told  Reuters the brand will develop its watch business as well as its presence worldwide, particularly in new markets such as the Middle East and Russia.

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From Adversary to Partner, Terry Burman Named Chairman of Zale Corp.

Terry Burman

Zale Corp.on Wednesday made a surprise announcement that Terry Burman was named board chairman of the Dallas-based jeweler, whose retail brands include Zales Jewelers, Zales Outlet and Gordon's Jewelers. Burman was the highly successful chief executive officer of Signet Jewelers Ltd. from 2000 till 2011, Zale Corp.’s main rival.

Burman replaces John B. Lowe, Jr., who has served as chairman for the past five years. Lowe will remain on the board, the company said. The announcement overshadowed its third quarter earnings report.

Burman, a 30-year veteran of the jewelry industry, joined Signet in 1995 as the chairman and CEO of Sterling Jewelers, Inc., the U.S. division of Signet and Zale Corp.’s main rival. Sterling is the largest specialty retail jeweler in the United States with more than 1,300 stores located in 50 states, including national chains Kay Jewelers and Jared the Galleria of Jewelry. Signet also is the largest retail jeweler in the United Kingdom.

Under Burman’s leadership Sterling and then Signet experienced robust growth during the high-growth economy of the 1990s and the early 2000s and even through the economic recession and sluggish economy since 2008. Meanwhile, Zale Corp., suffered during the economic downturn under several leadership and ownership changes closing more than 100 underperforming stores.

Before joining Signet, Burman held executive positions, including president and CEO of Barry’s Jewelers, Inc., which now does business as Samuels Jewelers. He serves on the boards of Yankee Candle Company, Inc. and Tuesday Morning Corp. He also serves on St. Jude Children’s Research Hospital Board of Governors. He has received numerous jewelry industry awards, including the American Gem Society Lifetime Achievement Award in 2010 and is the former chairman of Jewelers of America.

“Terry’s track record and industry knowledge make him uniquely qualified to contribute to Zale as we execute our plans for long term growth and shareholder value,” said Theo Killion, Zale Corp. CEO.

“I am delighted to assume the role of chairman of the board at Zale at such an important point in their turnaround program,” Burman said. “I am looking forward to working with Zale’s management and board to refine the company’s strategy and priorities to drive profitable growth and create shareholder value.”

Zale Corp. is a leading specialty retailer of diamond and other jewelry products in North America, operating approximately 1,710 retail locations throughout the United States, Canada and Puerto Rico, as well as online. Zale Corp.'s brands include Zales Jewelers, Zales Outlet, Gordon's Jewelers, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda. Zale also operates online at www.zales.com, www.zalesoutlet.com, www.gordonsjewelers.com, www.peoplesjewellers.com and www.pagoda.com. 

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De Beers Names French Transport Exec as New Group CEO

Philippe Mellier

The De Beers Group has gone outside the diamond industry to appoint Philippe Mellier as its new chief executive officer.

Mellier, currently the president of Alstom Transport and executive vice president of Alstom s.a., was selected after what the diamond giant described as “a wide-ranging search.” He will formally join De Beers in July and will chair the company’s executive committee and be appointed to the De Beers s.a. Board.

As president of Alstom Transport, a French multinational conglomerate with interests in the power generation and transport markets, Mellier oversaw a growing business of 27,000 employees with sales of almost 6 billion euros ($8.5 billion) during the last fiscal year.

“Having led the transformation of the diamond industry over the past decade, this appointment signals our determination to lead in a rapidly changing world,” Nicky Oppenheimer, De Beers Board chairman said in a statement Monday. “In Philippe we have found a proven leader with a reputation for delivering results while shaping businesses for the long-term.”

Oppenheimer added, “With several large upstream projects underway and the rapid emergence of major downstream markets, De Beers stands on the cusp of an exciting new period of growth. To seize this moment, we were determined to find a leader with a world class track record of delivering large projects, understanding the needs of key stakeholders including government partners and clients, and an instinct for shifting consumer patterns.  I am excited by the dynamism and fresh perspective that Philippe will bring to De Beers.”

Mellier was named president of Alstom Transport and member of the Alstom Executive Committee in 2003. A year later he was appointed executive VP of Alstom Group.

Prior to Alstom, he was named chairman and CEO of Renault Trucks in 2001 and served as a member of the Volvo Group Executive Committee. In 1999, he was senior VP in charge of European Sales for Renault and was a member its management board.

He began his career in 1980 with the Ford Motor Company where he occupied various senior management positions over 19 years, including an appointment as vice president of Marketing, Sales and After Sales Activities in 1997 for Ford of Europe.

Mellier graduated from ENSTA, the Paris-based French institute for engineering education and scientific research, with a degree in mechanical engineering in 1979. He received an MBA from INSEAD, Fontainebleau, France-based business school in 1980. He is fluent in French, English, Spanish and Portuguese.

Nayla Hayek Named CEO of Harry Winston

Nayla Hayek

Swatch Group Ltd. said Friday that Nayla Hayek, chairwoman of the Swiss holding company and daughter of the company’s founder Nicolas Hayek, has been named CEO of Harry Winston, Inc., effective immediately.

This change in leadership was first noted in early April when it was reported that the luxury brand’s former CEO, Frédéric de Narp, quietly left the company and Hayek assumed his role. She had already been nominated chairwoman of Harry Winston when the company was acquired by Swatch Group in March from former its owner, now named Dominion Diamond Corp., for $750 million plus the assumption of up to $250 million of pro forma net debt.

The luxury diamond jeweler and timepiece retailer has salons in key locations throughout the world—including New York, Paris, London, Beijing, Shanghai, Hong Kong, Singapore, Tokyo and Beverly Hills.

The brand’s namesake, Harry Winston (March 1, 1896 – December 28, 1978) founded the luxury retail company in 1932. He was among the most famous jewelers in the world and the first jeweler to lend jewels to an actress for the Oscars red carpet in 1944. He was also well-known for donating the Hope Diamond to the Smithsonian Institution in Washington.

The Swatch Group, based in Biel, Switzerland, is active in the manufacture and sale of finished watches, jewelry, watch movements and components. It is the world’s largest watchmaking group and supplies nearly all the components required for the watches sold by its 19 individual brands and the multi-brand Tourbillon retail company.

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Stéphane Linder to Become CEO at Tag Heuer

Stéphane Linder

Luxury holding group, LVMH Moët Hennessy Louis Vuitton, has named Stéphane Linder as the new chief executive officer of Swiss luxury brand Tag Heuer. The appointment will take effect June 1.

Linder, who is currently vice president of sales in North America for Tag Heuer, will replace Jean-Christophe Babin who was recently named CEO of Bulgari, also owned by LVMH. Babin replaces Michael Burke who LVMH appointed as head of Louis Vuitton.

Linder began his career with Tag Heuer in 1993 in the R&D Department, and held the positions of Product and Trade Marketing manager, R&D and Brand director, and VP of Marketing and Product Design before taking up his current position in 2010. 

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Richemont Announces Leadership Changes at Montblanc and Jaeger-LeCoultre

Lutz Bethge

Lutz Bethge, CEO of luxury brand Montblanc International, will leave the post to serve as non-executive chairman and head of the Supervisory Board of Montblanc. He will be replaced July 1 by Jérôme Lambert, CEO of Jaeger-LeCoultre. Also at that time Daniel Riedo, currently Industrial director of Jaeger-LeCoultre, will become the luxury watch brand’s CEO.

The announcements were made Wednesday by luxury holding company, Richemont, which owns both brands.

In his new position, Bethge will represent Montblanc externally and will be an advisor to the luxury brand on strategic matters. Bethge has spent 23 years in various roles with Montblanc, becoming CEO in 2007. He is credited for moving the luxury brand from a traditional writing instrument manufacturer to a diverse luxury brand, adding watches, leather goods and jewelry to its product line.

“The Maison has been recognized as a legitimate player in the watch business, providing continued and significant growth,” Richemont said in its statement.

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Pandora Names Allan Leighton as CEO

Allan Leighton

Pandora said Thursday that Allan Leighton, current chairman of the jewelry company, will succeed Bjørn Gulden as CEO on July 1.

Gulden is stepping down to join sports brand, Puma, as its new CEO. Pandora’s board of directors will recommend that Gulden remain part of the company as a board member.

Marcello Bottoli, who is currently deputy chairman, will succeed Leighton as board chairman.

Bjørn Gulden

“Pandora is a great business which is performing well, but the sports industry has always been a major part of my life, and my role at PUMA will also allow my family to remain in Germany,” Gulden, a former professional soccer player said in a statement.

Leighton added: “Bjørn, Marcello, the management team and I have worked very closely on delivering on the company strategy and the board believes that continuity in that execution and understanding of the business is key to our continued success.”

The Danish manufacturer, marketer, distributor and retailer of fine jewelry is still recovering from a very difficult 2011, which saw a sudden 70 percent drop in its stock price following a less than glowing second quarter report that year. Prior to that drop the company, which designs its popular charm bracelets and silver jewelry in Copenhagen and manufacturers them in Thailand, was the darling of jewelry retailers and the investment community as it experienced spectacular growth. The company’s IPO in 2010 raised $2.1 billion.

Gulden began at Pandora in March of 2012 and by November 2012 the company, working off a stock rebalancing program, returned to profitability in the third quarter reporting a revenue increase of 14.3 percent, year-over-year, and net profit increase of 11.4 percent. However, it wasn’t enough to save the year as revenue for 2012 was essentially flat while net profit fell 41 percent.

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It's Official: Jean-Christophe Bédos Now Head of Birks & Mayors

Jean-Christophe Bédos

Jean-Christophe Bédos officially became the president and CEO of North American luxury retailer and manufacturer, Birks & Mayors Inc., Monday. The appointment was first announced in January.

Bédos replaces Thomas A. Andruskevich who announced his retirement in September, 2011. Bédos, who is based at the company’s headquarters in Montreal, Canada, was transitioning to the leadership position under Andruskevich since January.

Birks & Mayors operates 59 luxury jewelry stores in Canada and the United States—32 stores under the Birks brand in most major markets in Canada and 24 stores under the Mayors brand in Florida and Georgia. The company also operates two retail locations in Calgary and Vancouver under the Brinkhaus brand and one retail location in Orlando under the Rolex brand.

“The Company has deep roots in Britain and since its founding in Montreal in 1879, has built a solid reputation in Quebec and across Canada,” Bédos said. “The company’s history is rich and vibrant, and its creations are today cherished by many generations, including royalty and celebrities. I look forward to building on the Company’s successes and strong design heritage and brand image.”

Prior to his current appointment, Bédos was president and CEO of Parisian luxury jewelry house, Boucheron Intl., from 2004 to 2011. Previously, he was managing director of Cartier from 2002 to 2004, and international executive manager alongside the president of Richemont International from 2000 to 2002. He started his career in the jewelry industry at Cartier in 1988.

Bédos holds a Sloan Master of Science in Management from the London Business School, a LLB in International Law from Université Paris I Sorbonne, a BA (Honors) in European Business from Trent University, Nottingham and a Bachelor of Arts, European Business, from Toulouse Business School.

De Quercize to Head Cartier; Bos to Lead Van Cleef & Arpels

Stanislas de Quercize

Two internationally renowned luxury jewelry brands will soon be under new leadership in a bit of musical chairs by the Richemont group.

Stanislas de Quercize has been named CEO of luxury jewelry house, Cartier, to become effective by the end of the year. He will succeed Bernard Fornas, who reached the age of 65 earlier this month.

De Quercize is currently the CEO of the luxury jewelry house, Van Cleef & Arpels, and will continue in that role until he assumes his new position.

When de Quercize moves to his new position, he will be succeeded by Nicolas Bos, currently creative director of Van Cleef & Arpels and chief executive of Van Cleef & Arpels North America.

Swiss luxury good conglomerate, Compagnie Financière Richemont S.A., which owns both luxury brands, made the announcement Monday.

Since 1989, de Quercize has had an extensive career with Richemont, having worked with Montblanc, Alfred Dunhill, Cartier—where he rose to be president of Cartier Inc. in the United States—and, since 2005, Van Cleef & Arpels.

Blue Nile Names New CEO

Harvey Kanter

Online diamond and jewelry retailer, Blue Nile, has appointed retail industry veteran Harvey Kanter as CEO and president, effective March 30. He will also be appointed to the Seattle-based company’s board of directors. He replaces Diane Irvine who resigned suddenly in November.

Interim CEO, Vijay Talwar, has been named general manager and president of International, and will lead Blue Nile’s international business.

Kanter has more than 25 years of merchandising and retail experience, including multichannel retail and merchandising positions. Prior to joining Blue Nile, he served as president and CEO of Moosejaw Mountaineering and Backcountry Travel, Inc., a leading multichannel retailer of premium outdoor apparel and gear. Under his leadership, Kanter developed Moosejaw’s enhanced brand architecture and market positioning by clearly defining the merchandising, marketing, and consumer experience strategy and initiatives. During his tenure, Moosejaw experienced double-digit revenue growth and was the recipient of numerous industry awards, including: Internet Retailer Hot 100 and Hot 100 Mobile, and Ad Age Top 50 Marketing Company.

Before Moosejaw, Kanter served as executive VP and managing director of Michaels Stores, the nation’s largest craft store chain in the United States and Canada, with nearly $4 billion in annual sales. While at Michaels, Kanter led the overhaul of the company’s product merchandising and was responsible for product trend development.

“Harvey brings a vibrant leadership style and a unique ability to align product strategy and marketing in such a way that inspires consumers,” said Mark Vadon, Blue Nile chairman. “His dynamism and passion, coupled with his experience in online and traditional retail, are just what we need to drive growth and inspire the next generation of Blue Nile customers.”

Georg Jensen Names David Chu as CEO

David Chu

Danish luxury silver brand and global retailer, Georg Jensen, said Friday it has appointed fashion designer and entrepreneur, David Chu, as its chief executive officer. Chu is well-known in the world of fashion for founding Nautica, the global lifestyle and clothing brand, in 1983 and turning it into a company with $1 billion in sales by the time he sold it in 2003 to Vanity Fair Corp.

Chu has been with Georg Jensen since November 2012, when the company was acquired by Investcorp. Chu was brought on as co-chair of Georg Jensen’s board of directors and chief creative officer. He will continue to serve as a board member as well as CCO to oversee the design direction and strategy for all products.

“My goal is to bring Georg Jensen to the design conscious community all over the world,” Chu said in a statement.

Among his many positions since selling Nautica, Chu served as chief creative officer of Tumi, the global luggage, travel and accessory brand.

Founded in 1904, Georg Jensen is known for its collaborations with leading artists and designers of the 20th century, including Henning Koppel, Johan Rohde and Arne Jacobsen, who are among the masters of 20th century modernism and Scandinavian design.

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