Watches of Switzerland Group PLC Directorate Change (9152I)
17 December 2020 - 6:00PM
UK Regulatory
TIDMWOSG
RNS Number : 9152I
Watches of Switzerland Group PLC
17 December 2020
Watches of Switzerland Group PLC
Directorate Change
Watches of Switzerland Group PLC ("the Group") today announces
that Fabrice Nottin and Michele Rabà have decided to step down from
their roles as Non-Executive Director and Board Observer of the
Group, respectively, with immediate effect.
Fabrice is a partner at Apollo Management International LLP
(together with Apollo Global Management, Inc. and its other
subsidiaries, "Apollo") where he led the acquisition of the Group
by Apollo-affiliated funds in March 2013 before becoming the Apollo
Representative Director of the Group on its admission to the London
Stock Exchange in June 2019. Michele, also a partner at Apollo, has
been involved in the investment by Apollo-affiliated funds in the
Group from the outset. He was a Director of the Group until its IPO
and subsequently became Apollo's designated Board Observer.
Apollo has indicated that it currently does not intend to
appoint a replacement Representative Director or Board Observer.
The Board continues to be led by non-executive Chairman Ian
Carter.
Brian Duffy, Chief Executive Officer, said: "It has been a
pleasure to work with Fabrice firstly as the main player from
Apollo pre-IPO and then as a non-exec Director following our
listing. Fabrice and the Apollo team know this market and the WOS
Group business very well and their advice and input have directly
contributed to our success."
Fabrice Nottin and Michele Rabà said: "It has been a privilege
working with the Group and contributing towards its sustained
success as it has transitioned from private to public ownership. As
the UK's largest luxury watch retailer with a growing US presence,
the Group occupies a unique luxury market position and is backed by
a proven track record, strong management team and clear
strategy."
Contacts
Watches of Switzerland Group PLC
Anders Romberg, CFO
Allegra Perry, Investor Relations +44 (0) 116 2817 401
investor.relations@thewosgroup.com +44 (0) 20 7317 4600
Headland
Lucy Legh / Rob Walker / Joanna
Clark
wos@headlandconsultancy.com +44 (0) 20 3805 4822
About the Watches of Switzerland Group
The Watches of Switzerland Group is the UK's largest luxury
watch retailer, operating in both the UK and US, comprising four
prestigious brands; Watches of Switzerland (UK and US), Mappin
& Webb (UK), Goldsmiths (UK) and Mayors (US), with
complementary jewellery offering.
The Watches of Switzerland Group has 138 core stores across the
UK and US (which includes 27 dedicated mono-brand stores in these
two markets in partnership with Rolex, TAG Heuer, OMEGA, Breitling,
Audemars Piguet, Tudor and FOPE) and has a leading presence in
Heathrow Airport with representation in Terminals 2, 3, 4 and 5 as
well as five transactional websites.
The Watches of Switzerland Group is proud to be the UK's largest
retailer for Rolex, Cartier, OMEGA, TAG Heuer and Breitling
watches.
Mappin & Webb holds Royal warrants as goldsmiths,
silversmiths and jeweller to Her Majesty The Queen and silversmiths
to His Royal Highness The Prince of Wales. The Mappin & Webb
master jeweller has been Crown Jeweller, custodian of the Crown
Jewels of Her Majesty The Queen since 2012.
https://www.thewosgroupplc.com
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