Audemars Piguet Nominates New CEO

The Audemars Piguet Board of Directors has announced its nomination of a new Chief Executive Officer, according to Jasmine Audemars, Chairwoman of Audemars Piguet.  Philippe C. Merk, currently the CEO of Maurice Lacroix will assume this role in January of 2009, succeeding Georges-Henri Meylan, who has served as Audemars Piguet CEO for over 20 years.  Mr. Meylan ably presided over a period in which the brand experienced notable growth; he will continue as CEO until December 31, 2008, and after that time, will remain on the Audemars Piguet Board.

Philippe C. Merk brings with him a great deal of executive experience.  In addition to his successful management of the Maurice Lacroix brand since 2001, Mr. Merk has acted in senior positions in both the food and pharmaceutical industries.  Merk attended the Engineering School in Zurich, where he received a diploma in chemical physics, and he also holds a Masters in Business Administration from IMD in Lausanne.  

Mr. Merk is noted for significantly raising the luxury positioning of the Maurice Lacroix brand, with a focus on developing its capabilities as a true manufacture, as well as the creation of innovative mechanical complications, most notably the recent "Memoire 1" watch.