Corum Appoints Serge Weinberg as New Chairman

Corum announced today that Serge Weinberg has been appointed as the company's new Chairman of the Board replacing the late Severin Wunderman, who originally purchased the Corum Group in 2000. The Corum group board will now be comprised of Serge Weinberg, Richard E. Tomlin, Jr. (Managing Director of the Board) and Michael Wunderman (Creative Director of the Board). Antonio Calce, Chief Executive Officer, will continue to manage the global operations of Corum and will report directly to the Board.

Serge Weinberg started his career as a civil servant in the French administration from 1976-1981. Following that, he was promoted to Chef de Cabinet to the Budget Minister, Laurent Fabius in 1981. Weinberg1s business management experience rapidly grew from his several senior management positions at FR3 and Havas. In 1990, after three years as General Manager with investment bank Pallas Groupe, he joined the Pinault Group as CEO of CFAO. Subsequently, he became the CEO of Rexel (1991-1995) then served as Chairman of the Management Board of PPR, the largest non-food retailer in Europe and the third largest multi-brand luxury goods company in the world. In 2005, he founded Weinberg Capital Partners focussing on LBO's and real estate investments. Currently, he is also the Non-Executive Chairman of the Accor Group and serves as a director of Schneider Electric, Gucci Group.

Corum is a family-owned and managed Luxury Watch producer and distributor located in La Chaux-de-Fonds, Switzerland since 1955. Recognized as an exclusive, timeless brand, Corum offers an array of exceptional timepieces that are original, with a one-of-a-kind design and diverse appeal. The brands growth since 2005 has gained recognition for its exceptional quality. The wide range of collections the brand carries includes models equipped with mechanical movements whose prices range from 5,000 to 1 million US dollars. Each timepiece holds a unique appeal, eclectic appearance, and horological significance.