South African native Johann Rupert and a man among Forbes Magazine’s “the world’s richest people” has been appointed the new CEO of the Richemont Group. The group are owners of some of the best in world-class watches and jewelry labels. To name a few are Jaeger-LeCoultre , Montblanc and Cartier.

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Richemont is the world’s second largest luxury goods group which is already controlled by the Rupert family. Former CEO Norert Platt is relinquishing his role as former CEO due to health reasons.

Investors welcomed the appointment of billionaire former investment banker Rupert, 59, to the helm of the company.

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