Richemont appoints Rupert's son Anton co-deputy chairman - AOL

Wed, September 9, 2026 at 2:21 AM EDT

Sept 9 (Reuters) - Cartier owner Richemont on Wednesday named Anton Rupert, son of Chairman Johann Rupert, as non-executive co-deputy chairman of its board of directors, in a move the luxury goods group described as part of its succession planning.

Anton Rupert takes on the role with immediate effect and will serve alongside Bram Schot, the former Audi chief executive who was appointed deputy chairman in 2024.

Geneva-based Richemont said the younger Rupert would oversee strategic product and communications matters across its luxury brands, while Schot would be responsible for board governance and committee-related affairs.

"This appointment is an important step in the Board's long-term succession planning," Chairman Johann Rupert said in a statement issued on the day the company is holding its latest annual general meeting.

"Richemont's strength has always rested on the continuity that comes from close family involvement, on rigorous governance, and on an unwavering commitment to creativity and craftsmanship," he added.

(Reporting by Maria RugamerEditing by Dave Graham)

Two iconic business leaders are showing that stepping down as CEO doesn't have to mean stepping away from a company.

Tim Cook resigned as Apple's CEO this month after 15 years in the job, while Warren Buffett ended his six-decade run as Berkshire Hathaway's CEO at the turn of this year.

Yet Cook is set to become Apple's executive chair, earning a CEO-sized paycheck and playing an ambassador-like role. As Berkshire's chair, Buffett continues to pick stocks and help make key decisions.

There are clear parallels between the two men's approaches to post-CEO life, Kevin Carpenter, who writes an investing Substack named Kingswell and "The Berkshire Beat" newsletter, told Business Insider.

"They each passed the torch to the next generation, while still staying heavily involved behind the scenes," Carpenter said, noting that Cook has said Apple will remain his main focus.

Apple and Berkshire didn't immediately respond to requests for comment.

Keeping busy

Buffett told CNBC in March that Cook "somehow gets along with everybody in the world." Carpenter said that this ability could allow Cook to be a "diplomat of sorts" for Apple and "leverage the relationships" he has with governments, regulators, suppliers, and other parties.

Apple has said that as chair, Cook will help with "engaging with policymakers around the world."

Cook has been described as a " Trump whisperer" for his close relationship with the president. During his tenure as CEO, Apple gave gifts to Trump, donated toward the construction of the White House ballroom, and pledged to invest in US manufacturing.

After news broke of Cook's departure, Trump posted on Truth Social that he had "always been a big fan" of the executive, and praised Apple's success under Cook's leadership.

Cook, who succeeded Apple cofounder Steve Jobs, took the company to new highs by scaling and strengthening its global supply chain and catering to China's mushrooming middle class.

Apple clearly expects Cook to continue generating value, as his target compensation for fiscal 2027 is $45 million before cash bonuses, not far off the $58 million figure for new CEO John Ternus.

As for Buffett, he's responsible for building an Alphabet stake from scratch into the third-biggest position in Berkshire's stock portfolio in under 12 months. The holding was worth around $38 billion at the end of June.

Berkshire's new CEO, Greg Abel, has said he frequently speaks with Buffett and consults with him on major decisions, including the acquisition of housebuilder Taylor Morrison and Alphabet's private placement earlier this year.

"Just like Buffett is making Abel's job easier by staying so involved with Berkshire's stock portfolio, I think Cook will do similar for Ternus by handling stickier issues in the political, antitrust, trade realm that might be too much for a brand new CEO," Carpenter said.

Finding the right balance

Having Cook and Buffett remain so central to their companies could yield benefits but also poses risks, Larry Cunningham told Business Insider.

"Keeping an iconic predecessor as chairman can give a new CEO both continuity and counsel — but only if the predecessor resists becoming a shadow CEO," said the director of the University of Delaware's Weinberg Center for Corporate Governance and the author of several books about Berkshire.

"The key is 'wisdom without command,'" Cunningham said.

If Cook and Buffett allow their successors to run the show, they may be able to avoid pitfalls such as leadership confusion and power struggles, while adding value by taking on responsibilities that suit their skill sets, namely diplomacy and picking stocks.

Read the original article on Business Insider

Tue, September 8, 2026 at 4:04 PM EDT

BURLINGTON, Vt. (AP) — Burton Snowboards tapped into its past Tuesday, naming one-time regional brand manager Denny Bruce to take over as CEO as the company approaches its 50th anniversary.

Bruce worked as the snowboard maker's Mid-Atlantic Brand Manager from 2003-05 before moving onto a career that included leadership roles at Vans, Skullcandy, Traeger and Dickies. He'll take over for Donna Carpenter, who had been serving on an interim basis.

Carpenter's husband, the late Jake Burton Carpenter, founded the company in 1977, crafting snowboards in a workshop in his barn in Vermont. It has remained privately owned since.

“Denny doesn’t need to be taught what Burton means or why snowboarding matters," Carpenter said.

New Era Bugatti

It’s been known for some time that Bugatti will soon be under new management. After the Volkswagen Group (VW) revived it under the Porsche brand, new interest from other carmakers has given them reason to sell out. EV Hypercar maker Rimac decided to take the storied Bugatti brand into the future.

Rimac has now announced that its majority buy-in of Bugatti is complete, giving it control of the brand moving forward.

Control With New Leadership

When Porsche first agreed to sell to Rimac in 2021, the agreed-upon shareholder structure gave Rimac a 55% majority stake, with Porsche holding the remaining 45%. Porsche also held a 21% shareholding in Rimac Group. This was a joint venture agreement at the time; now Rimac takes complete control.

According to the official announcement, “a consortium led by HOF Capital, including BlueFive Capital as its largest investor and other institutional investors from the US and Europe, agreed to acquire Porsche’s shareholdings in Rimac Group and Bugatti Rimac. The transaction has now been completed.” After completing the Porsche buyout, Mate Rimac takes over as President of Bugatti Automobiles, while Marko Brkljačić is being considered for the Chief Operating Officer role. Another key role switch will see current Bugatti Automobiles Managing Director Hendrik Malinowski transition to Chief Commercial Officer.

Looking Ahead

The buyout and new management structure follow the brand’s continuous efforts to usher in a new era. Just this past July, Bugatti opened the new La Manufacture production facility in Molsheim. On new products, the Mistral has finally been put out of production, with the new flagship model Tourbillion currently under testing and a new V16 engine replacing the iconic W16.

Bugatti’s new V16 is a naturally aspirated unit built in partnership with legendary engine builder Cosworth. Three electric motors will assist the V16, for a total output of 1,800 hp. The performance is expected to give the Tourbillion a 0-60 mph time of 2.0 seconds and a top speed of 276 mph.