Richemont has announced the resignation with of Georges Kern, head of watchmaking, marketing and digital. The company said, Kern has stepped down from the senior executive committee and the group management committee and will no longer be standing for election to the board of directors of Compagnie Financière Richemont SA at the forthcoming annual general meeting of shareholders.

Commenting on Kern's decision, Johann Rupert, the company’s Chairman, said in a statement, “Georges has been offered an interesting opportunity to become an entrepreneur. He has had a very successful career at IWC Schaffhausen and we wish him well.”

Richemont's watchmaking, marketing and digital activities will now report to the senior executive committee.