After the medical devices and dental businesses were combined in the middle of last year to create the Cendres+Métaux Medtech Division (CM Medtech), the Jewellery, Watches and Refining sectors are now set to form the new Cendres+Métaux Luxe & Industry Division (CM Luxe & Industry). With the further implementation of its divisionalisation strategy, Cendres+Métaux SA is seeking to adapt better to changed market circumstances and become more competitive. The newly established Division will in future be headed up by Marco Zingg who at the same time, as Chairman of the Board and delegate of the Board of Directors, is taking charge of overall operational management. Dr. Arne Faisst, who is also a member of the Board of Directors, remains the CEO of CM Medtech, having been delegated to this role last year. Previous Head of the Jewellery, Watches and Refining sectors and former CEO Dr. Claudio Penna is leaving the company.
Changed market dynamics require an adopted organizational structure
The markets for luxury items and medical devices continue to be in a state of upheaval throughout the world and, for Swiss suppliers, competition has further intensified as a result of the decision of the SNB [Swiss National Bank] last year. The differences between the two sectors, for example in terms of regulations or production processes, are also steadily increasing. In order to be able to respond to these changes more flexibly and, at the same time, further improve competitiveness in both sectors, the Board of Directors of Cendres+Métaux Holding SA decided last year to combine the previous different business segments into the CM Medtech and CM Luxe & Industry Divisions. This divisionalisation was implemented as far as CM Medtech was concerned back in 2015. The second step is now following, with the concentration of the Jewellery, Watches and Refining sectors under the umbrella of the new CM Luxe & Industry Division.
As a result of the implementation of the divisional strategy, the Board of Directors expects the organisation to improve its ability to respond to the specific changes in the two sectors in which the company operates. In addition to this, various measures are being activated to increase efficiency and improve customer focus.
Strategic orientation brings change in personnel
Chairman of the Board Marco Zingg who, as delegate of the Board of Directors, is also responsible for overall operational management, will take charge of the new CM Luxe & Industry Division. Dr. Claudio Penna, the previous Head of the Jewellery, Watches and Refining sectors and former CEO, is leaving the company due to differing perceptions concerning the required strategic orientation of the company. Member of the Board of Directors Dr. Arne Faisst, who was delegated to the position of CEO of CM Medtech in July 2015, continues unchanged as Head of the CM Medtech Division and the international subsidiary companies. The remaining members of the management board, Ralf Novacek (CFO) and Carmelo Blandini (COO), will also stay in post.
Good growth potential thanks to various product and process innovations
“At the present time, the market environment in the jewellery and watches industry is undergoing profound change both in terms of technology and prices”, according to Chairman of the Board Marco Zingg. “As suppliers, we are naturally also feeling this very acutely and are constantly having to re-adapt. With our powerful innovations in products and processes along with our broad set-up in terms of available production technologies, however, we are fundamentally well-positioned for change and the future.” To illustrate this, a world first 3D printing process is currently being launched onto the market enabling unique designs for watch cases, gold jewellery and even dental implants to be produced. “Due to the costs associated with the realignment we are only expecting a significant improvement in profitability in the next financial year”, says Marco Zingg.
Contacts in case of questions:
President of the board
|Dr. Arne-Christian Faisst
CEO Cendres+Métaux Medtech