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Leymarie Leaves Cartier

NEW YORK — Compagnie Financiere Richemont AG is undergoing yet another management change.<br><br>According to a Cartier spokeswoman, Guy Leymarie, president and chief executive officer of Cartier worldwide, has left the firm. A replacement has...

NEW YORK — Compagnie Financiere Richemont AG is undergoing yet another management change.

According to a Cartier spokeswoman, Guy Leymarie, president and chief executive officer of Cartier worldwide, has left the firm. A replacement has not been named yet, and the spokeswoman declined to comment any further.

Leymarie took the Paris-based Cartier post in March 2001 after serving as chief executive officer of Dunhill for 14 months. Before joining Dunhill, he was Cartier’s managing director of retail and jewelry, worldwide operations.

Cartier is one of the largest jewelry companies with an estimated 18 percent share of a global market worth about $3.1 billion a year. During Leymarie’s tenure, Cartier launched product lines such as Collection Delices de Cartier jewelry, the Roadster men’s watch, and more recently, the Divan watch.

“We put the U.S., which is the first market for jewelry and watches, as the first priority for development for the next five years,” Leymarie told WWD last March.

Richemont’s net income for 2001 declined by 66.1 percent to $404.6 million from $1.19 billion in the prior year. Excluding profits generated by associated companies, the profit decline was 86.6 percent, to $142.7 million from $1.07 billion. High-end jewelry registered a 2 percent drop to $817 million because of declines at Cartier and Van Cleef & Arpels.

Leymarie is stepping down at a time of executive changes elsewhere at Richemont. As reported, Robert Filotei is leaving as president of Piaget’s North America division, and will be replaced by Richemont North America executive Thomas Van Der Kallen, effective Friday.

This story first appeared in the October 30, 2002 issue of WWD.  Subscribe Today.