The company has not yet named Lepeu's successor. Cartier owner Richemont also said Johann Rupert will remain group executive chairman while also saying its had moved to restructure the responsibilities of senior management.

In a statement, Richemont said the following senior executives will be nominated to the board at its annual general meeting in September 2017:

* Nicolas Bos, who will join the board in his capacity asCEO of Van Cleef & Arpels * Burkhart Grund, currently deputy chief financial officer,who will become chief financial officer * Georges Kern, currently CEO of IWC Schaffhausen, who willbe head of watchmaking, marketing and digital * Jérôme Lambert, currently CEO of Montblanc, who will behead of operations responsible for central and regional servicesand all Maisons other than jewellery and watchmaking

Further nominees to the board of directors may be intimated ahead of the annual general meeting, Richemont said. The following directors will retire from Richemont at the AGM: Yves-André Istel, Bernard Fornas, Richard Lepeu, Simon Murray, Norbert Platt, Lord Renwick of Clifton, Juergen Schrempp and the Duke of Wellington

(Reporting by Joshua Franklin; Editing by Michael Shields)