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Richemont announces changes to board of directors

Compagnie Financière Richemont SA, the world’s third largest luxury goods company, has announced changes to its board of directors.

As previously announced by the company, Norbert Platt will give up his role as CEO on 31 March. Platt will remain on the board of Compagnie Financière Richemont SA as a non-executive director. Johann Rupert, currently executive chairman, will combine that position with the role of CEO with effect from 1 April 2010. Richard Lepeu, currently group finance director, will assume the role of deputy CEO.

Gary Saage will become CFO and Dr Frederick Mostert has been appointed chief counsel of the group. Both men will be proposed for election to the board of Compagnie Financière Richemont SA at the annual general meeting to be held in September 2010. As previously announced, Josua Malherbe will also be proposed for election to the board at that meeting.

Alain Dominique Perrin and Dr Franco Cologni have indicated that they will give up their remaining direct executive roles within the organisation effective 31 March 2010. They will continue to serve as non-executive directors of Compagnie Financière Richemont SA. Although allocating more time to their non-group interests, both men will also remain closely involved in organisations affiliated with Richemont.