Frederick Mostert resigns as Director on Richemont Board

Richemont has announced that Frederick Mostert will resign from the Board of Directors and the Group Management Committee with effect from December 31, 2014. Mostert joined the group in 1990 and was appointed to its Group Management Committee in 1994. He has served as a member of the Board of Directors since 2010.

Commenting on his tenure at Richemont, Johann Rupert, Chairman of the Board, said, “*The company has benefited greatly from Frederick Mostert’s service with us for the past 25 years and we are extremely grateful to him for the contribution he has made. Richemont will be able to continue to benefit on an advisory and consultancy basis from Mostert’s internationally acknowledged expertise in intellectual property law.”

*

As the Chief Legal Counsel, he will continue to serve the company as an employee until retirement in 2015. Thereafter, he will continue to serve the group as a consultant in intellectual property matters.