0900 GMT - Questions linger over Richemont's long-term leadership, Alphavalue equity analyst Jie Zhang says after the Swiss luxury group appointed its powerful chairman's son to a senior role. Johann Rupert's son Anton was this week handed the role of nonexecutive co-deputy chairman of the group, which houses jewelers Cartier and Van Cleef & Arpels and watchmakers including Piaget alongside fashion brands like Chloe. Anton Rupert has limited experience in luxury and while he may be a natural choice for a leadership role in the family-dominated business, the quality of that leadership remains largely untested, Zhang notes. "Greater visibility around succession therefore does not necessarily translate into lower execution risk," she cautions. Alphavalue has a reduce rating and a target price of 179 Swiss francs on Richemont stock. Shares rise 0.55% to 173.85 francs.
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