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Anton Rupert, the son of South African billionaire Johann Rupert, is emerging as the likely next leader of Compagnie Financière Richemont SA, the Swiss owner of Cartier and Van Cleef & Arpels that his father built and still controls.
The 39-year-old was named non-executive co-deputy chairman of Richemont in September, putting him one step below his father on the board. On Nov. 13, the elder Rupert, 76, presented first-half results that showed operating profit up 33% to €3.13 billion ($3.51 billion), as the group he founded in 1988 kept growing on demand for its jewelry.
The board approved Anton Rupert's appointment at a meeting on Sept. 8, and it took effect immediately. He shares the role with Bram Schot, 65, the former Audi AG chief executive who became deputy chairman in 2024.
"This appointment is an important step in the Board's long-term succession planning," Johann Rupert said at the time. He said Richemont's strength "has always rested on the continuity that comes from close family involvement."
A split remit
The two deputies have separate jobs. Anton Rupert oversees the Maisons' Strategic Product and Communications Committee, which sets the creative and commercial direction of brands including Cartier, Van Cleef & Arpels, Vacheron Constantin and Jaeger-LeCoultre. Schot handles board and committee governance.
Johann Rupert said his son "will continue to safeguard the creative and product priorities that define our Maisons," while Schot will ensure governance "remains of the highest standard."
Day-to-day management rests with Chief Executive Officer Nicolas Bos, the former head of Van Cleef & Arpels.
Anton Rupert has sat on Richemont's board as a non-executive director since 2017. He has also held executive roles at Remgro Ltd., the South African investment group founded by his grandfather, and at Watchfinder.co.uk, the British pre-owned watch dealer that Richemont bought in 2018.
Richemont describes him as having knowledge of and insight into tech start-ups and "extensive exposure to all of the Group's businesses." The company said he brings "valuable insight into changing consumer behaviour in digital marketing and web-based commerce."
The younger Rupert keeps a low public profile and has said little publicly about his plans for the group.
Investors weigh the move
Analysts were divided on the appointment. Jean-Philippe Bertschy of Vontobel called it "only a partial surprise" that came "somewhat earlier than anticipated." Pierre-Olivier Essig of AIR Capital described it as "far from ideal" and downgraded the stock.
Johann Rupert controls the group through Compagnie Financière Rupert, which holds more than half of the voting rights while owning about 10% of the equity.
The Rupert fortune dates to the 1940s, when Anton Rupert, Johann's father and the younger Anton's grandfather, founded the Rembrandt Group, a tobacco business that grew into one of South Africa's largest industrial conglomerates. Johann Rupert spun Richemont out of it in 1988 to hold the family's international luxury and tobacco assets and has chaired the company since 2002.
Forbes ranks Johann Rupert as South Africa's richest person.
Figures were converted at €1 to $1.12.
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