Movado Group Inc. said its president, Ricardo Quintero, is leaving the company.
Quintero will remain with the company through April 30 to ensure a smooth transition, the company said. Movado added that Quintero’s responsibilities would be assumed by other members of the senior management team.
Efraim Grinberg, chairman and chief executive officer, said, “Ricardo has helped mentor a highly talented organization leading our brand, marketing and global commercial efforts, that will continue to execute our strategies and position Movado Group for growth.”
Quintero said, “I have great confidence in Movado Group’s portfolio of brands, strategic direction and people, and I believe the company has many exciting opportunities for the future.”
The company affirmed its fiscal-year 2018 outlook disclosed on March 20 when it posted fourth-quarter results. That outlook anticipates diluted earnings per share of $1.40 to $1.55 on a net sales range of $515 million to $530 million.
Grinberg said the company in fiscal 2017 saw its brands “outperform the overall watch category in key markets around the world,” and said the company remains focused on “delivering great product and enhancing our digital footprint while efficiently managing our costs.”