Johann Rupert, chairman of Compagnie Financière Richemont, dismissed investor concern about the group's performance, telling them at Friday's results presentation that "either you trust us or you sell your shares". After a decline in operating profit, investors fear that the company is not adapting fast enough to consumer demand for bespoke technology products, such as watches. Rupert, who smoked during the presentation, said: "I don't want us to compete against Google ... either you trust us or you sell your shares," he said. Rupert was responding to criticism about the luxury goods company's slow evolution in meeting new consumer needs and responding to market shift. Rupert maintained that the group would undergo change in the next 10 years. "We are getting skill sets that can cope with that change." Bringing in younger blood includes the appointment of Rupert's son Anton as a nonexecutive director. "We are confident that we will deliver proper returns for our shareholders in the ...
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