NEW YORK — Officine Panerai has promoted Rafael Alvarez to president of Panerai North America.Alvarez has worked at the Italian watch company since 2004 as regional brand manager for Spain and Portugal. Prior to that, he held positions at other brands within Panerai’s parent, Compagnie Financière Richemont, including Cartier and Dunhill. “We are pleased to welcome Mr. Alvarez to the Panerai North America team,” said Angelo Bonati, chief executive officer of Office Panerai. “He brings with him an extreme familiarity with the brand’s identity, thanks to his experience building the brand in Spain and Portugal. His success in those markets will no doubt be essential in furthering the development of Panerai North America and the brand’s success worldwide.” A new position has been created for Alexandra Zoller, the current Panerai North America president. She’ll be the company’s international retail director.

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