Swiss luxury group Richemont has appointed Anton Rupert, 39, son of chair and founder Johann Rupert, as non‑executive co‑deputy chair of the board overseeing product and communications committees. The move signals the next step in the Geneva‑based company's long‑term succession planning. The Rupert family holds about 10% of shares but controls over 50% of voting rights through a dual‑class structure.

Anton has served as a non‑executive director since 2017 and will share the deputy chair role with Bram Schot, former Audi CEO, who retains governance duties. The promotion follows the 2024 appointment of company veteran Nicolas Bos as CEO, easing pressure on the 76‑year‑old Johann Rupert, who has previously served as CEO multiple times. In 2022 activist investor Bluebell criticised the board's structure and the family's disproportionate control, but Richemont dismissed the stake as minimal.

Analysts note the elevation could be contentious from a governance perspective, though Richemont shares have outperformed the luxury sector, rising 18% over the past year despite a 4% dip on the announcement day. Consultants say the nomination was expected, as the family had indicated relatives would take non‑executive roles to ensure long‑term board representation.