Richemont director to step down from role

French holding company Compagnie Financière Richemont has announced that Dr Frederick Mostert is set to resign from the Board of Directors and the Group Management Committee, effective from December 31, 2014.

He steps down from his responsibilities, which include overseeing luxury online retailer Net-a-Porter, but will continue to serve the company as its Chief Legal Counsel until his retirement in 2015. Afterwards he will continue to work for the group as a consultant in intellectual property matters.

“Dr Frederick Mostert has informed me of his desire to extend his teaching commitments as a Law Professor and specialise in copyright and intellectual property rights more generally,” commented Johann Rupert, chairman of the board. “Accordingly, he wishes to retire from the Company in 2015 and will retire from the Board of Compagnie Financière Richemont and from the Group Management Committee at the end of 2014."

“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 Dr Mostert’s internationally acknowledged expertise in intellectual property law.”

Dr Mostert first joined the group in 1990 and had served as a member of the board since 2010.