~ Ricardo Quintero Joins as President ~
~ Rick Coté Promoted to Vice Chairman and Chief Operating Officer ~
PARAMUS, N.J.--(BUSINESS WIRE)--Jul. 14, 2014--
Movado Group, Inc. (NYSE:MOV) today announced executive leadership moves
in support of its long term growth strategy. Ricardo Quintero joins the
Company as President of Movado Group, Inc., effective today. Mr.
Quintero will direct the Company’s brands, marketing and international
expansion efforts, reporting to Efraim Grinberg, Chairman and Chief
Executive Officer. Mr. Quintero most recently served at The Estée Lauder
Companies as Clinique’s Senior Vice President, Global General Manager –
Market Development. In this position, he was responsible for providing
global leadership to achieve growth and profitability for Clinique
across all regions and markets, where he drove market share gains,
expanded into emerging markets and strengthened new distribution
channels for the brand. Rick Coté, who served as President and Chief
Operating Officer since 2010, has been promoted to Vice Chairman and
Chief Operating Officer.
Efraim Grinberg commented: “I am delighted to have Ricardo Quintero join
Movado Group. He has a proven track record as a global brand builder and
leader. Ricardo understands brands, how they connect with consumers
around the world, and the global landscape - a winning combination to
harness the power of our portfolio to support and accelerate our global
expansion. His experience will be of great value to our Company as we
continue to develop our businesses around the world.”
Mr. Grinberg continued: “I am equally pleased to announce the promotion
of Rick Coté to Vice Chairman and Chief Operating Officer. Rick has been
instrumental in developing the platform that has led to our strong sales
growth and profitability. In his new role, Rick will partner with
Ricardo and myself to help us to evolve our strategies and continue on a
path of sustainable profitable growth.”
Rick Coté stated: “I am pleased to have Ricardo join our executive team.
His background and proven track record in brand building and developing
go-to-market strategies in international markets will be invaluable to
us as we expand our business around the world. Ricardo will lead our
brands’ marketing and international expansion efforts, allowing me to
focus on evolving our long term strategic plans. I will also continue to
direct our finance and operations areas as Chief Operating Officer. I am
confident that we have the right leadership in place to position Movado
Group for even greater success in the near and long term.”
Ricardo Quintero stated: “I am excited to join Movado Group and believe
that there is a significant opportunity to build upon the successful
growth of its watch portfolio and achieve even greater expansion in the
future across the globe. Movado Group is strongly positioned with
important growth opportunities ahead of it and I am proud to help
develop and implement the plan that enables the Company to achieve, and
over time, surpass its long term goals and continue its trend of
delivering sustainable profitable growth.”
Mr. Quintero is a highly accomplished executive with nearly 30 years of
brand building, marketing and international expansion experience. He has
held leadership positions with several high profile global consumer
companies, most recently serving as Senior Vice President, Global
General Manager - Market Development at Clinique (Estée Lauder
Companies, Inc.). Prior to this position, Mr. Quintero held various
managerial positions of increasing responsibility at The Estée Lauder
Companies beginning in 1999. Prior to this, Mr. Quintero was involved in
several family owned apparel businesses in his native Mexico. Earlier in
his career, Mr. Quintero developed his marketing expertise at Pepsi Cola
Mexicana and Procter & Gamble de México.
Movado Group, Inc. designs, sources, and distributes MOVADO®, EBEL®,
CONCORD®, ESQ® Movado, COACH®, TOMMY HILFIGER®, HUGO BOSS®, JUICY
COUTURE®, LACOSTE® and SCUDERIA FERRARI® watches worldwide, and operates
Movado company stores in the United States.
Source: Movado Group, Inc.
ICR, Inc.
Rachel Schacter/Allison Malkin, 203-682-8200