LONDON – Louis Ferla, currently head of Vacheron Constantin, will take over from Cyrille Vigneron as chief executive officer of Cartier, effective Sept. 1.
Vigneron, 63, is retiring after eight years at the helm of Richemont’s biggest brand, and will assume the position of chairman of Cartier Culture and Philanthropy. He’ll also work with Ferla on the management transition.
The appointment comes in a year of management change for Richemont, which has a new CEO in Nicolas Bos, formerly head of Van Cleef & Arpels.
The shuffles have been internal, with Richemont’s chairman and founder Johann Rupert aiming to draw up a longterm roadmap for the company as a generation of top managers reaches retirement age.
Richemont has high levels of management loyalty, with many members of staff clocking decades at the Geneva-based luxury giant. Employees tend to retire between the ages of 63 and 65, although Rupert often likes to keep some of them on as advisers, or in ad hoc positions.
Ferla, who turns 49 this year, has “earned the admiration and respect of his colleagues across the group, and of the industry at large,” for his work at the high-end watch brand, Rupert said.
He has a big job ahead.
The Richemont chairman said Cartier reached “new heights” under Vigneron, who served as CEO over the past eight years, and who helped to choose Ferla as his successor.
“I wish Cyrille all the best in his new role, where I know he will be working on topics that he has always felt passionate about,” Rupert added.
Jean-Luc Martinez, president-director of the Louvre Museum, and Louis Ferla, ceo of Vacheron Constantin, in 2019.
Courtesy
Barclays was broadly positive about the changes. The bank described Vigneron’s departure as “a small negative,” but not a big surprise considering the ongoing management reshuffle.
“We believe that Vigneron was highly-respected among investors thanks to his ability to reinforce Cartier over the past years,” the bank said.
Ferla, a French national, joined Richemont in 2001, starting at Dunhill as Area Sales manager in Hong Kong, and then as general manager in Taipei.
In 2006, he joined Cartier, where he held various senior executive positions, namely across the Middle East, India, and Africa before being appointed CEO in China.
In 2015, he was promoted to Cartier’s executive committee as international director Clients and Business. Ferla has been CEO of Vacheron Constantin since 2017.
Under Ferla’s tenure, the watchmaker has stepped up its cultural partnerships, signing a collaboration with the Louvre in 2019 and inking an agreement for educational programs with the Metropolitan Museum of Art in 2023.
Bos said he has “always admired Louis’ strategic vision and inspiring management style, which have served him well in turning Vacheron Constantin. I look forward to seeing Cartier continue to thrive under his leadership.”
Vigneron said he helped to choose Ferla for his “outstanding leadership skills, exceptional business acumen, and deep affinity for our maison.” He said those qualities make Ferla “the ideal candidate for the role. I look forward to working with Louis in my new role.”
