Watches of Switzerland Group PLC Directorate Change (9152I)

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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       [phone] 
  [e-mail]      [phone] 
 Headland 
  Lucy Legh / Rob Walker / Joanna 
  Clark 
  [e-mail]             [phone] 
 

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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December 17, 2020 02:00 ET (07:00 GMT)