Richemont is one of the world's leading luxury - Alle jaarverslagen

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Board of directors of Compagnie Financière Richemont SAJohann RupertExecutive ChairmanSouth African, age 59Mr Rupert was appointed to the Board in 1988 and hasserved as Executive Chairman of Compagnie FinancièreRichemont SA since 2002. He is Chairman of theNominations Committee, the Strategic Product andCommunication Committee, the Chairman’s Committeeand the Group’s Management Committee.Mr Rupert studied economics and company law at theUniversity of Stellenbosch, South Africa and has had anextensive career in international business, banking andfinance. After working for the Chase Manhattan Bank andLazard Frères in New York he founded Rand MerchantBank in 1979. In 1985 he joined the Rembrandt Group.Three years later he founded Richemont and becameGroup Chief Executive. Appointed as Executive Chairmanin September 2002, he served as Group Chief ExecutiveOfficer during the period from October 2003 to September2004. He is Chairman of Reinet Investments Manager SA,the management company of Reinet Investments S.C.A.,Non-Executive Chairman of Remgro Limited and ofVenFin Limited, and the Managing Partner of CompagnieFinancière Rupert.The University of Stellenbosch awarded him an honorarydoctorate in Economics in 2004. He is Chairman of thePeace Parks Foundation and a Trustee of the NelsonMandela Children’s Foundation.Jean-Paul AeschimannDeputy ChairmanSwiss, age 75Since 1988, Maître Aeschimann has served as Non-Executive Deputy Chairman. He is Chairman of the AuditCommittee and a member of the Compensation andNominations Committee.Maître Aeschimann graduated in law from the Universityof Neuchâtel, studied at Harvard University and has beenadmitted to the Bar of Geneva. He is a practising lawyerand is Counsel to Lenz & Staehelin, based in Geneva.He serves as Vice-Chairman and Chairman of the AuditCommittee of the Board of Barclays Bank (Suisse) SAas well as director of a number of Swiss subsidiaries ofinternational groups.Lenz & Staehelin acts as legal counsel to Richemont andto Compagnie Financière Rupert and Maître Aeschimannis the Special Auditor of Compagnie Financière Rupert.Norbert PlattGroup Chief Executive OfficerGerman, age 62Mr Platt was appointed to the Board in September 2005.He graduated with a BSc in precision mechanicalengineering from the University of Frankfurt/Main andhas studied business and management topics at HarvardBusiness School and at INSEAD. He worked for a numberof years in the field of precision instruments, working withRollei in Germany and internationally, becoming CEO ofRollei Singapore and Managing Director of RolleiFototechnic in Germany.He joined Montblanc in 1987 and was President and CEOof Montblanc International. Mr Platt was elected to theformer Board of Richemont SA, Luxembourg in 2000 andappointed Group Chief Executive Officer with effect fromOctober 2004. He remains a member of the managementboard of Montblanc International Holding and is Non-Executive President of Montblanc International and amember of the Group’s Management Committee.Richard LepeuGroup Finance DirectorFrench, age 57Mr Lepeu was appointed to the Board in September 2004.He is a graduate of the Institut d’Etudes Politiques de Parisand the Université de Sciences Economiques de Paris X.He worked in international corporate finance before joiningCartier in 1979 as assistant to the President. Within Cartier,he was appointed Company Secretary in 1981 and becameDirector of Finance and Administration in 1985 beforebeing appointed Chief Executive in 1995. He served asChief Operating Officer of Richemont from April 2001until his appointment as Group Finance Director in May2004. He is a member of the Chairman’s Committee andthe Group’s Management Committee.Mr Lepeu is also President of Richemont France and amember of the Boards of Richemont Japan and RichemontNorth America.Franco CologniItalian, age 74Dr Cologni was appointed to the Board in 2002 andnow serves as an advisor to the Executive Chairman. Heprovides strategic input to the Maisons and is a regularcontributor to the Strategic Product and CommunicationCommittee.He is a graduate of the University of Milan, where helater became a professor. As a writer, he has publishedseveral books and articles, in particular on luxury goods,jewellery and watches, and is the publisher and editor-inchiefof the ‘Cartier Art’ magazine. He joined Cartier in1969 and served as Managing Director and Chairman ofCartier International. Dr Cologni has also been closelyinvolved with the Group’s watchmakers and since 2005has served as Chairman of the Fondation de la HauteHorlogerie in Geneva. He is founder of The CreativeAcademy, which offers Masters degrees in design andcreative management. He is also founder and Chairmanof the non-profit institution Fondazione Cologni deiMestieri d’Arte, established in Milan in 1995.Lord DouroBritish, age 63Lord Douro has served as a Non-Executive Director since2000. He is a member of the Nominations Committee.Lord Douro holds an MA degree from Oxford University.He has broad experience in banking and finance, serving asChairman of Sun Life and Provincial Holdings from 1995to 2000 and of the Framlington Group from 1994 to 2005.He is a director of Sanofi-Aventis and of Pernod Ricardand Abengoa Bio Energia. He is a senior advisor to theCrédit Agricole Group and Chairman of the Council ofKing’s College, London. He was a member of the EuropeanParliament from 1979 to 1989.From 1990 to 1993 he was Chairman of Dunhill Holdingsand from 1993 to 1998 Deputy Chairman of VendômeLuxury Group, both former subsidiaries of the Group.Since 1998 he has served as Non-Executive Chairman ofRichemont Holdings (UK) Limited, the holding companyfor the Group’s UK interests and provides consultancyservices to the Group.44 Richemont Annual Report and Accounts 2009Corporate governance
Yves-André IstelAmerican, age 73Mr Istel was appointed to the Board in 1990. ANon-Executive Director, he is a member of the AuditCommittee, the Nominations Committee and theCompensation Committee.Mr Istel graduated from Princeton University and hashad an extensive career in investment banking. He wasManaging Director of Lehman Brothers from 1977 to1983, Co-Chairman of First Boston International from1984 to 1988, Chairman of Wasserstein Perella & CoInternational from 1988 to 1992 and Vice Chairman ofRothschild Inc from 1993 to 2002. He is currently SeniorAdvisor to Rothschild Inc.Mr Istel is Chairman of the Board of Overseers of ReinetInvestments S.C.A.; a Non-Executive Director of ImperialSugar Company and a member of its Audit and itsNominating & Governance Committees; a directorof Analog Devices, Inc. and member of its GovernanceCommittee; a Non-Executive Director of Tiedemann TrustCompany; and a member of Healthpoint Partners LLC’sAdvisory Board.Mr Istel is Chairman of the Advisory Board of theRemarque Institute and the Center for French Civilisationand Culture, New York University, as well as the EuropeanInstitute and the Fondation Saint-John Perse. He is amember of the Economic Club of New York and theBretton Woods Committee.Ruggero MagnoniItalian, age 58Mr Magnoni was elected as Non-Executive Director in2006 and is a member of the Audit and NominationsCommittee. In 2006 he also became a partner ofCompagnie Financière Rupert.Mr Magnoni graduated from Bocconi University, Italyand holds an MBA from Columbia University, USA.Mr Magnoni joined Lehman Brothers in 1977 and helda number of senior roles across that firm’s internationalactivities. From 1987 to 1994, he was responsible forLehman Brothers’ activities in Italy. In 2000, Mr Magnonibecame Head of the European Private Equity divisionand Vice Chairman of Lehman Brothers Inc. and in 2002,Chairman of Lehman Brothers International Italy. SinceOctober 2008, Mr Magnoni has been Chairman ofNomura International plc’s Investment Banking divisionfor Europe, Middle East and Africa.Mr Magnoni is a member of the Board of Overseersof Reinet Investments S.C.A., Chairman of the Boardof Spumador SpA and a member of the boards ofOmniainvest SpA and 422 BV. He is a founding investorin Sopaf SpA and Hanseatic Americas Limited and isinvolved with various philanthropic activities, amongstthem, Fondazione Laureus Italia. He is a member of theCampaign Board of Bocconi University in Milan.Simon MurrayBritish, age 69Mr Murray became a Non-Executive Director in 2003and is a member of the Nominations Committee.He was educated at Bedford School in England andattended SEP Stanford Business School in the United States.He began his business career at Jardine Matheson, withultimate responsibility for the company’s engineering andtrading operations, as well as holding directorships invarious affiliated companies. In 1980, he formed his ownproject advisory company involved primarily in financingcapital-intensive engineering projects in the Asia-Pacificregion. In 1984 he became the Group Managing Directorof the Hong Kong-based conglomerate HutchisonWhampoa, leading that company’s entry into the mobiletelecommunication business and developing its energybusiness. He joined Deutsche Bank Group as ExecutiveChairman Asia-Pacific in 1993, supervising the Group’soperations in the region.In 1998 he founded Simon Murray & Associates andits subsidiary GEMS (General Enterprise ManagementServices Ltd), a private equity investment managementcompany. Mr Murray is a director of Vodafone Group,UK and Cheung Kong (Holdings) Limited, Hong Kong.Alain Dominique PerrinFrench, age 66Mr Perrin has served as Executive Director on the Boardof Compagnie Financière Richemont SA since 2003.He is a graduate of the Ecole des Cadres et des AffairesEconomiques, Paris (E.D.C.). He joined Cartier in 1969,assuming a series of roles and serving as President ofCartier International SA between 1981 and 1998.Mr Perrin was Chief Executive of Richemont SA,Luxembourg from 2001 to 2003, overseeing the Group’sluxury goods businesses from 1999 to 2003. He wasresponsible for the creation of the Fondation Cartier pourl’Art Contemporain in Paris and the launch of the annualSalon International de la Haute Horlogerie.Mr Perrin serves on the management committees of anumber of non-profit organisations. He is President of theEcole de Dirigeants et Créateurs d’entreprise (E.D.C.) andPresident of the European Foundation for ManagementDevelopment (E.F.M.D.), which delivers EQUIS and EPASaccreditations to business schools and universities aroundthe world. Mr Perrin is also President of the FondationCartier pour l’Art Contemporain and the Jeu de PaumeMuseum, Paris.Alan QuashaAmerican, age 59Mr Quasha was elected as Non-Executive Director in2000 and is a member of the Nominations Committee.He is a graduate of Harvard College, Harvard BusinessSchool, Harvard Law School and New York UniversityLaw School. After practising law, he moved intocommerce and since 1987 has been President of QuadrantManagement Inc.Mr Quasha served as a director of Richemont SA,Luxembourg from 1988 up until his appointment to theBoard of Compagnie Financière Richemont SA and wasChief Executive Officer of North American ResourcesLimited between 1988 and 1998.He is a member of the Board of Overseers of ReinetInvestments S.C.A., Chairman of Carret Asset ManagementGroup LLC, Chairman of HKN Inc., and was a director ofAmerican Express Funds from 2002 to 2005. He is a formerGovernor of the American Stock Exchange, a formerChairman of the Visiting Committee of Harvard University’sWeatherhead Centre for International Affairs and isChairman of the American Brain Trauma Foundation.Lord Renwick of CliftonBritish, age 71Lord Renwick was appointed to the Board in 1995. He isa Non-Executive Director, Chairman of the CompensationCommittee and a member of the Audit and NominationsCommittees.Lord Renwick is a graduate of Cambridge Universityand served in the British diplomatic service, rising tobecome Ambassador to South Africa from 1987 to 1991and Ambassador to the United States from 1991 to 1995.He is currently Vice Chairman, Investment Banking ofJPMorgan Europe and of JPMorgan Cazenove.He is Chairman of Fluor Limited, Deputy Chairman ofFleming Family & Partners and a Trustee of The Economist.Richemont Annual Report and Accounts 2009 45Corporate governance
Page 3 and 4: Financial and operating highlights
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Page 8 and 9: JewelleryMaisonsKey resultsSales (
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Page 14 and 15: Established 1845Altenberger Strasse
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Notice of meetingThe Annual General
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