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Business News: Audemars Piguet Names Ilaria Resta CEO
Ending months of speculation, Audemars Piguet (AP) has finally filled the role of chief executive officer after outgoing boss Francois-Henry Bennahmias revealed his intention to depart last year. The Le Brassus watchmaker famous for the Royal Oak just announced that the top job will go to Ilaria Resta, formerly the president at a privately-held fragrances giant headquartered in Geneva. According to the announcement, Ms Resta joins AP in August this year and officially assumes the chief executive role on January 1, 2024. Mr Bennahmias will remain to assist with the transition until the end of 2023. A thirty-year veteran of the brand, the flamboyant Mr Bennahmias quadrupled AP’s annual revenue during his tenure, with its sales last year hitting the CHF2 billion mark. His successor’s résumé, however, suggests the board might be looking for someone who understands branding on a global and mass-market scale. With a long and accomplished career in fast-moving consumer goods, Ms Resta’s background is unusual for the leader of a major luxury watch brand. She was most recently President of Global Perfumery & Beauty President at Firmenich, a Swiss firm that is one of the world’s largest fragrances companies and, like AP, family controlled. For over two decades until 2020, Ms Resta held a range of roles at Procter & Gamble, covering sectors ranging from laundry to hair care. “Her proven record of delivering results through a clear strategic thinking based on deep consumer...
