Richemont Restructuring Does Away With the CEO Role

Nov. 4 -- Luxury group Compagnie Financier Richemont SA is doing away with the CEO position after reporting a 51 percent decline in first half profit. Bloomberg Gadfly Columnist Andrea Felsted examines the move and the problems faced by the company going forward. She speaks on "Bloomberg Markets; European Close." (Felsted is a Bloomberg Gadfly columnist. The opinions expressed are her own.)
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