The Watchmaking Division of the Sandoz Family Foundation is enhancing its staffing structures at both strategic and operational levels.

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The Board of Directors of the holding company consists of Thomas Stenz and Charles Gebhard. Daniel Riedo, former CEO of Jaeger-LeCoultre is joining the Board of Directors of Parmigiani Fleurier. Daniel Riedo will also be elected to the Boards of Directors of the other Group companies (Vaucher Manufacture Fleurier SA, SFF Composants Horlogers SA (atokalpa, elwin), NewTechCo SA, Les Artisans Boîtiers SA and Quadrance & Habillage SA).

At the operational level, Jean-Noël Lefevre, former Director Production at Vacheron Constantin, has replaced Jean-Daniel Dubois as CEO of Vaucher Manufacture Fleurier. Mr Dubois has left the company.

Philippe Saint-Martin who, among other positions, was the long-standing CFO of LVM Les Fabriques du Temps Louis Vuitton and Boucledor SA, has taken over the role of CFO at Vaucher Manufacture Fleurier.

Dominique Borgers will join Parmigiani Fleurier as new CFO at the beginning of August 2019, having gained many years of experience as CFO of Fendi Timepieces and La Montre Hermès. The previous CFO, Ezio Galante, will continue to assist the company with special tasks. The Board of Directors of Parmigiani Fleurier would like to express its sincere gratitude to Ezio Galante for his outstanding commitment.

The above staffing decisions, which achieve a clear separation between operational and strategic management, demonstrate the firm intention of the Sandoz Family Foundation to meet with contemporary governance requirements and to strengthen its Watchmaking Centre.