Detroit-based watchmaker Shinola has confirmed that its president of seven years is set to leave the company.
Jacques Panis, who has worked with the luxury goods brand since its inception in 2011, has announced he is leaving the company to pursue other entrepreneurial ventures.
It has been reported that Mr Panis will serve out one more week in his role as president before officially departing on March 2, when he will be immediately succeeded by Shannon Washburn.
While reports state that Panis is planning to progress his career, the businessman has not issued a statement since it was announced he was leaving the company on February 22.
The company has confirmed that Washburn, who is currently Shinola Detroit LLC’s vice president of watch development, will lead Shinola’s brand and product development teams and its marketing efforts.