ZURICH—Swiss watch giant Cie. Financière Richemont SA is taking an unusual approach as it navigates a tumultuous downturn in the luxury market: It is eliminating the post of chief executive. Richemont on Friday said Chief Executive Richard Lepeu will step down in March, and isn’t being replaced. Top executives at Richemont luxury brands, which include Cartier, Montblanc and IWC Schaffhausen, will report to the board, led by Executive...

Source: Wall Street Journal November 04, 2016 08:16 UTC