Seven Corners featured on Chief Executive magazine: Who Needs a CEO Anyway? This Luxury Goods Retailer Thinks it Doesn’t

Nov 08, 2016

By Ross Kelly

The heads of Richemonts’ various brands will instead report directly to the board, headed by Chairman and company founder Johann Rupert.

It wasn’t long ago that Richemont had two CEOs. In March, co-CEO Bernard Fornas stood down, leaving Richard Lepeu with the job all to himself.

Now, Lepeu will stand down this coming March and won’t be replaced, the company announced this morning.

It’s difficult to recall a large publicly-traded company deciding to go without a CEO, though it’s not unheard of for chairmen to occupy the role in a dual capacity temporarily in the event of a sudden and unplanned departure while new blood is found.

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