May, 24th 2012
Due to differences in company strategy, the Board of Directors and Mr. Philippe Merk, Chief Executive Officer, have decided to terminate their collaboration. The Board appreciates the work accomplished these past years and wishes Mr. Merk continued success in his future endeavours.
The Board of Directors has nominated Mr.François-Henry Bennahmias to the position of General Manager ad interim. Mr. Bennahmias, 48 years of age, began his career at Audemars Piguet in 1996 and from 1997 he was Assistant Marketing and Sales Manager for Asia-Pacific and Europe.
In 1999 he was promoted to President and Chief Executive Officer of Audemars Piguet (North America Inc.) in New York. Owing to his solid commitment to AP and his dynamic personality, he has developed the brand with great success across the Atlantic.
The members of the Board wish him the same success in his new function and would like to take this opportunity to thank in advance the entire staff for their support.
On behalf of the Board of Directors of Audemars Piguet Holding SA
Jasmine Audemars, Chairwoman .. ... ... .Philippe Merk, Chief Executive Officer