It seems that running a luxury Swiss watch brand has about as much job security as managing a Premier League football club during the January transfer window.
Business news wire Bloomberg reports that chief executives at three Richemont maisons: Jaeger-LeCoultre, Piaget and Vacheron Constantin will all be replaced.
The story, which quotes unnamed sources, says Daniel Riedo, CEO of Jaeger-LeCoultre, will leave by the end of February.
Vacheron Constantin CEO Juan-Carlos Torres and Piaget CEO Philippe Leopold-Metzger will retire from their full time positions, but will remain non-executive presidents, Bloomberg sources said.
Georges Kern (pictured above at the recent IWC gala event at SIHH), current CEO of IWC, will assume more responsibility, taking over as interim CEO of Jaeger-LeCoultre.
Mr Kern is also expected to become head of all watchmaking at Richemont, Bloomberg reports.