Business News: Audemars Piguet Names Ilaria Resta CEOAn outsider takes the helm at the storied brand.
Ending months of speculation, Audemars Piguet (AP) has finally filled the role of chief executive officer after outgoing boss Francois-Henry Bennahmias revealed his intention to depart last year.
The Le Brassus watchmaker famous for the Royal Oak just announced that the top job will go to Ilaria Resta, formerly the president at a
According to the announcement, Ms Resta joins AP in August this year and officially assumes the chief executive role on January 1, 2024. Mr Bennahmias will remain to assist with the transition until the end of 2023.
A thirty-year veteran of the brand, the flamboyant Mr Bennahmias quadrupled AP’s annual revenue during his tenure, with its sales last year hitting the CHF2 billion mark. His successor’s résumé, however, suggests the board might be looking for someone who understands branding on a global and mass-market scale.
With a long and accomplished career in fast-moving consumer goods, Ms Resta’s background is unusual for the leader of a major luxury watch brand. She was most recently President of
“Her proven record of delivering results through a clear strategic thinking based on deep consumer insights will keep AP’s legacy relevant for generations to come and ensure long lasting growth,” says Alessandro Bogliolo, chairman of the AP board of directors, in the announcement.
Ms Resta’s appointment marks a complete renewal at the top of Audemars Piguet, which last year saw the retirement of its long serving chairwoman, Jasmine Audemars. After over 30 years leading the board, Ms Audemars was replaced by Mr Bogliolo, who was chief executive of Tiffany & Co. until it was acquired by LVMH.
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