LVMH brand TAG Heuer has just reported that CEO Stéphane Linder leaves the company with immediate effect, while head of LVMH’s watch division, Jean-Claude Biver, will take over his position in the meantime.

Stéphane Linder

Background for the abrupt leave of Stéphane Linder are reportedly conflicts with Mr Biver over the strategy of TAG Heuer.
Linder took over the position in July 2013 when previous CEO Jean-Christophe Babin left the company to join Italian giant Bulgari. It has been said that Linder favoured the upmarket (turning TAG Heuer into an integrated manufactory, producing watches also significantly above the 5000CHF mark) strategy initiated previously.

Biver, however, is confident that TAG Heuer’s future is rooted more in the below 5000CHF segment, thus not competing with close and similar brands.
Biver said that the latter is important in view of the recently tightening Chinese anti-corruption laws, which already had a sensible impact on the higher end watch market in Asia.

Source: Various