LVMH WATCH & JEWELRY
Reuters report on the behind-the-scenes story of Biver's departure
Jean-Claude Biver has been a leader in the Swiss watch industry for over 45 years, but in September of this year he announced that he would be stepping down from his position as head of LVMH's watch division to become an advisor.
Text by Masayuki Hirota (Chronos-Japan)
On September 20th, Reuters published the following news: "LVMH Watch chief steps down from management role." Below is an excerpt from the news:
Biver, who turns 69 this year, said: "I have decided to no longer have operational responsibility, but I will remain independent chairman of the board of directors of the LVMH watch unit and its three brands: Tag Heuer, Zenith and Hublot."
Biver, who has been suffering from serious health problems in recent months, said, "I no longer chop onions, I cry in the kitchen early in the morning, but I come back here to make sure everything is ready." He said he was feeling better, but had not yet fully recovered. One of the best-known and most successful managers in the Swiss watch industry, Biver joined the LVMH Group in 2008 when his Hublot was acquired. He was appointed head of LVMH's watch division in 14, and in 17, LVMH's watch and jewelry division generated sales of 38 billion euros ($45 billion), a 12% increase over the previous year, excluding currency fluctuations and acquisitions. The jewelry division is managed separately and is outside Biver's responsibilities.
In 2017, Biver signed a contract with LVMH and was scheduled to lead the LVMH watch division for the long term. In fact, he told me that he planned to continue working for another 10 years and that this was why he had lost weight. However, in reality, he had not lost weight on his own initiative; it was due to illness. Journalist Gisbert L. Brunner, who has known Biver for over 30 years, wrote on his blog, "Biver was responding to emails and social media posts from 5 a.m. His decision (to retire) is not only acceptable, but completely understandable."
According to multiple media reports, Biver will be involved in LVMH's watch division as an advisor. His successor will be Stéphane Bianchi, who served as CEO of a perfume company. Furthermore, Frédéric Arnault, son of the LVMH Group's chairman, will become TAG Heuer's Strategy and Digital Director. Incidentally, Arnault is already employed at the company and is currently responsible for connected technology, specifically smartwatches.
However, some believe Biver's resignation was not solely due to health reasons. One journalist, speaking on condition of anonymity, said, "Biver did not want the watch division's posts to be occupied by people who were not involved in the watch industry." While this is merely speculation, it is not entirely absurd.
In any case, his departure as the head of LVMH's watch division after 45 years of leading the watch industry will send shockwaves through the industry. At the very least, his absence, which involved a hand in everything from product development to marketing, is sure to change the direction of Zenith and Tag Heuer to a greater or lesser extent. French journalist Jean-Philippe Tarot told me, "I don't know what will happen in the future, but I'm sure there will be big changes." I agree. We'll have to keep a close eye on what happens next.
