Stanislas de Quercize, CEO of Cartier, will step down for personal reasons, effective immediately, Compagnie Financière Richemont announced Friday. The Swiss luxury goods holding company owns the luxury retailer. De Quercize has held the top position at Cartier since 2012 and has been with Richemont since 1990, serving in leadership positions with several brands. He will also resign from Richemont’s Group Management Committee but will remain as a Group executive, taking over the role of chairman of Richemont France. The resignation comes amid a report that de Quercize has health problems.
Cyrille Vigneron, currently the president of LVMH Japan, will succeed de Quercize on Jan. 1, 2016. Prior to joining the LVMH Group, Vigneron worked with Richemont from 1988 to 2013, principally with Cartier, rising to become managing director of Cartier Japan, president of Richemont Japan and managing director of Cartier Europe.