Audemars Piguet’s Newest CEO Is Ilaria Resta

by Chamath Gamage

The prestigious Swiss watch manufacturer has been on the search for a new CEO to take the reigns of the company. After an extensive search worldwide, Audemars Piguet has appointed Ilaria Resta as the newest CEO. She will be joining the company in August 2023. She will have a transition period where she’ll learn the ins and outs of the brand, and will officially take the role of Chief Executive Officer as of 1st of January 2024.

Image Reference

Ilaia Resta is a joint Swiss-Italian national who resides near Geneva, Switzerland. She has over 26 years of international experience under her belt leading major divisions of highly respected companies. The most recent company, in which she served as the President, was Global Perfumery & Ingredients at Firmenich. Ms. Resta has also worked at Procter & Gamble for over 20 years, where she had senior roles in the European and US Headquarters, building iconic global brands.

The current long-time CEO François-Henry Bennahmias announced his decision to leave the company back in 2022 after being at Audemars Piguet for the last 30 years. Bennahmias was appointed as interim CEO in 2012 and was officially appointed the title in 2013, which means that he has acted as CEO for Audemars Piguet for 10 years.

During this time, Bennahmias took Audemars Piguet to a new level of luxury watchmaking. He is quoted as saying to WorldTempus in 2013 that “In 2012, Audemars Piguet did a little more than 600 million Swiss francs in revenue and sold between 31 and 32,000 watches.” In 2018, Audemars Piguet reached over CHF 1 billion in sales for the first time, and in 2021, AP sales hit CHF 1.6 billion – placing it ahead of Patek Philippe and making it the fourth-largest watch brand by sales in Switzerland.

Image Reference

Bennahmias over the last 10 years has had control over which collections are kept and which will be removed. Audemars Piguet over the last few years has removed the Jules Audemars, Edward Piguet, Tradition, and Millenary Collections. Now, as Bennahmias is departing, he leaves behind four collections: Royal Oak, Royal Oak Offshore, Royal Oak Concept and the Code 11.59. Bennahmias will remain until the end of 2023 to provide a seamless transition with Ilaria Resta as the leader of Audemars Piguet.

Alessandro Bogliolo, Chairman of Audemars Piguet states “We are delighted to welcome Ms. Resta as our new Chief Executive Officer. A visionary leader with a passion for craftsmanship, Ilaria will take Audemars Piguet into the future as we continue to develop our brand, blend tradition with innovation, and strengthen our direct connection with clients. Her proven record of delivering results through a clear strategic thinking based on deep consumer insights will keep AP’s legacy relevant for generations to come and ensure long lasting growth.

Ilaria’s belief in the empowerment of teams and her accomplishments as an inspirational leader in corporate sustainability fully align with Audemars Piguet’s long-standing values as an independent family-owned company. On behalf of the Board of Directors, we would like to thank François for his three decades of service. His transformational leadership has been essential in building the success story AP is today. We are grateful for his indelible contribution and his commitment to stay until the end of the year to ensure a smooth transition.”

You may also like