Jerome Lambert took an unlikely career step down from Richemont's CEO to leading one of its 29 brands—he said he just wanted to return to ‘the job I loved' [Fortune]
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Source: Fortune
from leading sprawling watch major Richemont to overseeing a single brand under the Swiss company. Lambert spent nearly six years as group CEO at the watchmaking giant until last May. He was then made group COO in June 2024 and, from January, was appointed CEO of Richemont's Jaeger-LeCoultre brand. While examples abound of boomerang CEOs who return to the top job after departing, such as Volvo's CEO Hakan Samuelsson and UBS' Sergio Ermotti, Lambert's slide from the apex of the corporate pyramid to a lower rung in the hierarchy is uncommon. But he says it's a job he volunteered for. “This opportunity is both a privilege and a homecoming to the craft and heritage that have shaped my career,” Lambert said of his return when it was announced in November. He was the financial controller and CFO at Jaeger-LeCoultre prior to his first stint as its CEO, a role he held for 11 years between 2002 and 2013. He also worked at another Richemont brand, the luxury stationery and bag maker M
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