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| Georges Kern from Richemont headed to Breitling https://www.breitlingsource.com/phpBB2/viewtopic.php?f=1&t=63160 |
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| Author: | jnelson3097 [ Fri Jul 14, 2017 7:13 am ] |
| Post subject: | Georges Kern from Richemont headed to Breitling |
Timezone is reporting that Georges Kern is leaving Richemont to head up Breitling. |
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| Author: | Roffensian [ Fri Jul 14, 2017 7:43 am ] |
| Post subject: | Re: Georges Kern from Richemont headed to Breitling |
Smart hire, doesn't change the concerns over VC ownership, but that's a good decision. |
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| Author: | jnelson3097 [ Fri Jul 14, 2017 8:44 am ] |
| Post subject: | Re: Georges Kern from Richemont headed to Breitling |
One article I read said he'll have an ownership stake in Breitling |
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| Author: | WatchFred [ Fri Jul 14, 2017 8:49 am ] |
| Post subject: | Re: Georges Kern from Richemont headed to Breitling |
seems to be true, including the ownership stake, no reports on size of that stake. a rather controversial figure to put it mildly and some people I spoke to who know him well and have worked with him dislike him immensely, but clearly someone who will shake things up- can actually only be good for the brand after these last years of floating around without any recognizable strategy. |
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| Author: | crex [ Sun Jul 16, 2017 1:58 pm ] |
| Post subject: | Georges Kern from Richemont headed to Breitling |
Private Equity houses almost always want the most senior management to have an equity stake, it aligns with their own view that it is all about the bottom line, The CVC folk involved with the deal probably have some form of equity ownership also. It varies from deal to deal as to whether people actually pay £ for their stake or whether there is some other form of workout. It's not a bad thing per se as it incentivises management to run a successful house, it can mean though that the amount of risk taking (in new product for example) can be restricted. We will have to wait and see! Sent from my iPhone using Tapatalk |
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