International News
Richemont Revamps Senior Executive Team with Key Appointments in Jewelry Division
Van Cleef & Arpels, Cartier, and Former Van Cleef Executive Join Senior Leadership, while Jérôme Lambert Transitions to Jaeger-LeCoultre
Richemont has made significant changes to its top-tier leadership, appointing a new CEO for one of its prestigious luxury watch brands and reshuffling its jewelry sector with three key executives joining the senior executive committee.
Catherine Rénier, the CEO of Van Cleef & Arpels, has been promoted to Richemont’s senior executive committee effective immediately. Louis Ferla, CEO of Cartier, and Marie-Aude Stocker, former director of people, development, and prospective at Van Cleef & Arpels, have also been appointed to the committee. Stocker, who was previously responsible for talent management, has taken on the role of chief people officer.
Richemont’s CEO, Nicolas Bos, expressed confidence in the new leadership team, highlighting the invaluable industry and operational expertise Rénier and Ferla bring, especially given their roles overseeing two of Richemont’s largest and most renowned maisons. Bos also lauded Stocker’s new position, emphasizing her integral role in shaping Richemont’s talent and organizational strategy.
In a notable shift, Jérôme Lambert, currently on Richemont’s senior executive committee and board of directors, will be stepping down from both roles. Lambert is set to take the reins as CEO at Jaeger-LeCoultre, a renowned watchmaking brand within the Richemont portfolio.
These appointments signal Richemont’s ongoing commitment to strengthening its leadership across both its watch and jewelry brands, aligning with the company’s strategic goals for the future.
International News
De Beers Assumes 100% Control Of Gahcho Kué Diamond Mine
A Global Slump In Diamond Demand Hit The Company Hard. Its Revenue Dropped 42% In 2025, and Average Diamond Prices Plummete
De Beers is taking 100% control of the Gahcho Kué diamond mine in Canada’s Northwest Territories. Its partner, Mountain Province Diamonds, was facing major financial trouble and agreed to hand over its 49% share in exchange for being cleared of all its debts to De Beers.
Here is why Mountain Province ran into trouble:
Falling Diamond Prices: A global slump in diamond demand hit the company hard. Its revenue dropped 42% in 2025, and average diamond prices plummeted—falling to just $36 per carat in the second quarter.
Massive Debt: Mountain Province was struggling to pay back tens of millions of dollars in short-term loans. Ratings agency S&P warning that the company was at high risk of defaulting on its debts.
Cost-Cutting and Emergency Funds: To stay afloat, the company paused expansion plans at the mine, delayed payments into environmental cleanup funds, and sold future diamond sales rights to major investor Dermot Desmond (an Irish billionaire) for quick cash.
Despite selling twice as many diamonds recently, prices were too low to cover their debts.
CEO Jonathan Comerford explained that trade tariffs and Middle East conflicts crushed diamond prices, leaving handing over their share of the mine as the best option to cancel liabilities and secure local jobs.
-
National News2 days agoGJEPC Launches UNNATI: Powering Women In GJ Sector To Drive Industry Growth Towards Viksit Bharat
-
National News2 days agoKEYA By Adbhut Brings Wearable Art and Indian Craftsmanship To Delhi Art Weekend 2026
-
National News2 days agoDivine Solitaires and SGL Launch The Know Your Diamond Zone At GJS Diwali Edition 2026
-
National News2 days agoTitan, Kalyan, Malabar, Senco and Indriya Lead 54 Champions Crowned At The First India International Jewellery Awards

