Sophie Guieysse is stepping down immediately from her senior executive committee role and will not stand for re-election to the board.
Cyrille Vigneron expected to take charge with Jérôme Lambert moving to head up Online Distributors.
Richemont
Coverage of the situation has focused on Sophie Guieysse's rocketing pay while overseeing painful cuts to staff and salaries across the group.
Global sales ended the year on €14.2 million, virtually flat on 2019's €14.0 million.
Davide Cerrato has brought a sense of direction and adventure to Montblanc's watchmaking division since joining in 2015. Then Covid-19 hit.
Cartier will have its own platform and others are using a portal created by Watches & Wonders Geneva.
Share prices for the major luxury conglomerates have risen sharply this week as hopes rise that the spread of Covid-19 Coronavirus is being contained.
LVMH's share priced dropped by 5% on Monday as a surge in Coronavirus cases was reported in Italy. Swatch Group and Richemont were down by similar percentages.
Swatch Group gets thrifty, LVMH splurges, Rolex and Patek stick with Baselworld, Richemont returns to Watches & Wonders, while Breitling and Audemars Piguet go their own way.
Specialist watchmakers, which includes timepieces from IWC, Cartier, Jaeger-LeCoultre, Piaget and Panerai, notched a 2% increase in sales to €818 million for the quarter.
