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![Richemont Human Resources Manager Sophie Guieysse (57) is leaving the management immediately.]()
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Richemont Human Resources Manager Sophie Guieysse (57) is leaving the management immediately.
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OLaf Tamm
![The Geneva luxury goods company Richemont had initiated media reports on conflicts regarding a salary policy review by HR.]()
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The Geneva luxury goods company Richemont had initiated media reports on conflicts regarding a salary policy review by HR.
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Keystone
![Senior managers had to accept wage losses of up to 20 percent and staff cuts in bonuses of 25 to 50 percent.]()
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Senior managers had to accept wage losses of up to 20 percent and staff cuts in bonuses of 25 to 50 percent.
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Bloomberg via Getty Images
![A year earlier, the then nine management members received “only” 30.5 million.]()
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A year earlier, the then nine management members received “only” 30.5 million.
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Richemont had initiated a review of the area a few days ago after media reports of conflicts over the Group’s salary policy. Sophie Guieysse is leaving the management immediately, Richemont announced on Friday in a short communiqué.
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At the upcoming general assembly, she will also no longer stand for re-election to the board of directors. Guieysse was appointed Head of Group Human Resources in 2017.
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Dispute over salary increases
Richemont did not comment on the reasons for the abrupt departure. However, the departure comes as no surprise, as Richemont announced a week ago that a “comprehensive review” of the Human Resources division had been initiated.
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This review was preceded by media reports in which disputes within the group were written. The extensive salary increases granted in part in the management were criticized.
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On the other hand, according to the “Business Montres & Joaillerie” online portal, other senior managers had to accept wage losses of up to 20 percent and staff cuts in bonuses of 25 to 50 percent.
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Special payments to the bosses
According to the annual report published at the end of May, Richemont boss Jérôme Lambert (51) earned CHF 8.1 million in the last financial year. That was significantly more than the 5.4 million in the previous year.
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Richemont pointed out, however, that Lambert had recently received benefits from a long-term compensation program. As a result, the compensation from the stock option plan has doubled to 4.0 million.
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Lambert has been compensated with the special payment for work since 2016, it said in the report’s justification. He was head of the Richemont brands Jaeger-LeCoultre and Montblanc and took over the group management in autumn 2018. Nicolas Bos (49), who has been head of the jewelry brand Van Cleef & Arpels for years, received similar payments. Bos received 9.2 million Swiss francs last year after 4.9 million.
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All in all, the eight people who were part of the senior executive committee last year received CHF 41.4 million in remuneration. A year earlier, the then nine management members received “only” 30.5 million. (SDA / buo)
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