WatchTime - August 2012

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36 WatchTime August 2012
Merk
Photo: Tatijana Shoan
Bennahmias
Comco Extends
Swatch Group Cutbacks
The Swiss Competition Commission
(Comco) has extended by one year the
cutbacks it is permitting the Swatch
Group to make in deliveries of movements
made by its ETA subsidiary and
escapement assortments made by its Nivarox
unit. Comco is investigating, at the
Swatch Group’s request, whether ETA
and Nivarox should be allowed to decrease
or completely stop deliveries to
other watch companies permanently.
Correction
The prices for the Corum Admiral’s Cup
Legend 42 Annual Calendar given on page
82 of the June 2012 issue were incorrect.
The correct price for the rose-gold version
(shown here) is $25,900. The steel version
is $9,200.
Merk Out,
Bennahmias In
Philippe Merk has resigned from his post as
CEO of Audemars Piguet. He has been succeeded,
on an interim basis, by François-
Henry Bennahmias, who was the brand’s
CEO in North America. A statement
signed by AP Chairwoman Jasmine Audemars
and Merk said that Merk departed
“due to differences in company strategy.”
Merk became CEO in December 2008.
Prior to that he was the CEO for the Swiss
brand Maurice Lacroix.
Bennahmias, 48, joined Audemars
Piguet in 1996 and in 1999 became the
chief of its North American operations.
Pending the outcome of the investigation,
Comco is permitting the Swatch
Group to decrease by 15 percent and 5
percent, respectively, its deliveries of
complete movements and Nivarox assortments.
Comco initially expected to
finish the investigation and make a ruling
by the end of this year, but has now announced
it will not rule until next year
and will therefore allow the cutbacks to
continue through all of 2013.