May 7, 2009
LVMH appoints Chopard manager as new head of Zenith
May 7, 2009
PARIS, May 7 (Reuters) - Swiss luxury watchmaker Zenith, part of the French group LVMH (LVMH.PA), has placed at its helm a manager currently at jeweller and watchmaker Chopard in a bid to revive the brand's flagging sales.
LVMH's jewllery and watch sales stand out as the group's worst performers, having dived 41 percent on a like-for-like basis and at constant exchange rates during the first quarter.
The French group said Jean-Frederic Dufour, now in charge of jewellery and watch product development at Chopard, would succeed Thierry Nataf who left Zenith on May 1 to pursue other interests.
A spokesman for LVMH declined to elaborate.
Nataf leaves after making redundant some 24 employees, or 10 percent of Zenith's staff.
Dufour, a graduate from Geneva University in commerce and industry, held various managing and marketing positions at Swatch (UHR.VX) and Ulysse Nardin. He will start at Zenith on June 1.
Founded in 1865, Zenith was acquired by LVMH in 1999.
(Reporting by Astrid Wendlandt)
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