The biggest watchmaking group sounds a positive note for the first half of 2017.
He will take a stake in Breitling and lead its turnaround.
While the numbers are down, diversity is up.
CVC Capital Partners will take a majority stake in Breitling.
The struggling watchmaker will be led by an executive who has spent 17 years at Vacheron Constantin.
Sales rose 11% at the owner of brands like TAG Heuer and Hublot.
Dominated by familiar names, the list of richest people in watchmaking is led by the Rupert, Hayek and Stern.
Sales, profit and margins all decline, but the group expects a turnaround next year on the back on resurgent sales in China.
The Swiss conglomerate continues to clean house as it deals with a downturn.
Watch exports from the Alpine nation fell almost 10% compared with a year before.