Business News: Greubel Forsey Gets New CEO
Greubel Forsey has just announced a change of leadership, with Michel Nydegger assuming the role of chief executive officer. Interestingly, the current chief executive officer, Antonio Calce, will then become a vice president starting August 2024. Mr Nydegger joined the brand eight years ago and rose to his present role of head of marketing and communications in 2021, shortly after Mr Calce took over. Mr Nydegger was part of the team that supercharged Greubel Forsey’s revenue and profitability, and embarked on an expansion of its “inclined” manufacture, thanks in part to a bestselling line of sports watches introduced by Mr Calce. According to the company, despite the management changes, “Greubel Forsey will remain independent, with Robert Greubel, Stephen Forsey, and Antonio Calce continuing as shareholders.” The significance of this leadership transition at Greubel Forsey is not yet publicly known, although there has been talk that the brand is seeking new investors. The company’s ownership structure was simplified in 2022 when Richemont sold its 20% stake to Messrs Greubel, Forsey, and Calce. One rumoured scenario is that a consortium led by a well-known industry personality is taking over Greubel Forsey, something that may be announced in fall 2024.
Fratello
