by Kyle Stults on July 09, 2009
Questions Remain
This is an update to our article published earlier this week.
Minutes ago, Romain Jerome issued a statement regarding the recent departure of CEO Yvan Arpa and other senior executives: “Owners of the limited liability company RJ Watches SA and its watch brand Romain Jerome have decided to part with the CEO, the head of administration, the sales director and two other staff members. Nonetheless, the change of management in no way jeopardises the ongoing success of the company, which continues to enjoy excellent sales, promising order volumes and an extremely strong brand image.”
Unfortunately, this really tells us nothing that was not already reported. It does seem that these people were dismissed (rather than them resigning), but many questions remain:
- Who has replaced these people?
- Who is now running RJ on a day to day basis?
- What is the financial state of Romain Jerome? Certainly the company was quite proud to trumpet it financial success as recently as January of this year – but what are we to make of its current report that sales are “excellent” and order volumes are “promising?”
On the last note, I can still agree that the brand image is strong. But certainly some more answers would be appreciated.
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