Fabian Krone, CEO of luxury watch company A. Lange & Sohne (profiled recently in Haute Living), has resigned from his position. Although the watch industry has been slow in recent times, the announcement of his departure comes shortly after the company earned the title of “Germany’s Top Luxury Brand”.
The demise of Krone’s time at A. Lange & Sohne is reportedly due to strategic differences over the future direction of the company. While the facts of the discrepancy are unknown, the circumstance of it being part of the Richemont Group might have played a hand in the matter. A. Lange & Sohne is one of a group of brands held by the parent company and therefore might be limited in its freedom of decision making.
A statement released by A. Lange & Sohne reads, “Richemont regrets but respects Mr. Krone’s decision.”
For the meantime, former COO Jerzy Schaper has been appointed interim CEO.