Jean-Marc Pontroué announces his departure as head of the Panerai watch brand

Jean-Marc Pontroué announced his immediate departure from the Panerai brand on LinkedIn. With two weeks to go until the start of the biggest watchmaking event, Watches and Wonders Geneva, the move may be a surprise, as all his appointments with the press and customers had already been confirmed. For some time now, well-informed sources had been commenting on the decline in Panerai's sales and the dilution of the Florentine brand's image, which Richemont bought in 1997.

In his announcement posted on LinkedIn on Monday, 17 March, Jean-Marc Pontroué expresses a bittersweet feeling about leaving. He writes: ‘I am filled with bittersweet feelings as I leave Panerai's 841 employees (...), partners, suppliers, loyal customers, inspiring Paneristi, and media communities in Switzerland, Italy and everywhere else we are present.’ For the man who began his career at Montblanc as Vice-President of Products and Strategy in 2000, then went on to head the Roger Dubuis brand from 2011 and finally Panerai in 2018, his rise to the top echelons of Richemont had been widely acclaimed.

His six years at the head of the Geneva-based brand Roger Dubuis had left a solid imprint on the very high-end market, and Jean-Marc Pontroué had managed to make it more desirable. Specialising in grand complications, the brand had succeeded, before others, in attracting communities of collectors, whom it valued through VVIP experiences organised specifically for them.

At the head of Panerai, Jean-Marc Pontroué had pursued this idea of communities, which he invited to enjoy unique experiences on a naval ship alongside the brand's ambassador Mike Horn or on the Eileen boat owned by the brand. His strategic choices had been to strengthen the industrial base in Neuchâtel and make certain Panerai models more accessible by increasing volumes and expanding the number of collections, with cutting-edge research on materials as the focal point. E-steel recycled steel was one of Panerai's specialities.

However, it is true that the brand, under the leadership of its predecessor Angelo Bonati - the man who had managed to bring the brand out of the shadows - had acquired an image as a jewel of watchmaking, very attached to its Italian roots. This major change could thus allow Panerai to return to the fundamentals of the brand.

Rumours, not confirmed by Richemont, suggest that Emmanuel Perrin, current distribution director of watch brands, may be appointed to take over the reins of the brand.