Audemars Piguet CEO Gives Engaging Talk to AIC
Geneva, March 19, 2019: In jeans, sneakers and a sweater, the CEO of Audemars Piguet took the podium like a rock star at the AIC luncheon on March 19 at the Métropole Hotel in Geneva. Funny, gregarious and very down-to-earth, François-Henry Bennahmias led the nearly 90 attendees through the most interactive presentation ever made to the AIC.
Describing Audemars Piguet as the “first startup in the watch industry” Bennahmias took us through the history of the family-run business from its creation in 1875 by Jules Louis Audemars and Edward Auguste Piguet in the Vallée de Joux. Two members of the Audemars family are still active in running the business. Their most famous collection is the Royal Oak, introduced in 1972 as the world’s first luxury sports watch, effectively breaking all the codes of the time.
Its most recent collection, Code 11.59, launched earlier this year, once again broke the codes of today’s watchmaking. Bennahmias recounted how social media went crazy about the watch, singularly divided between either loving or hating the new, audacious design. “People on social media actually asked for my resignation!” said Bennahmias.
It is certainly this audacity that has helped Bennahmias succeed as the company’s CEO for the last seven years. Although the watchmaker has maintained its long-time production level at 40,000 watches a year, with Bennahmias at the helm, Audemars Piguet has recently become a billion-dollar company. The slogan "To Break the Rules, You Must First Master Them" certainly describes his leadership style and was introduced about the time Bennahmias became CEO.
Announcing without shame that he has no diplomas and barely finished high school, Bennahmias explained that he started in sales for the brand as a young man in Paris and has been working there for 25 years. His approach to management is a combination of working on the basics, giving clear direction, paying attention to detail, and creating one team. He asked several members of the audience to come up on stage for an experiment to prove the importance of clear communication, and interacted with the attendees throughout his speech, asking questions and encouraging interaction.
Many people in the room agreed that this was one of the best speakers the AIC has welcomed in the recent past, and most left energized by Bennahmias’ infectious enthusiasm. The last slide of his presentation was a cheeky quote from Yoda: Do or do not, there is no try.”
The luncheon was co-sponsored by the Wharton Alumni Club, represented by Philippe Monnier who introduced the speaker. The AIC President, Ed Schneider, rounded out the event by presenting the Audemars Piguet CEO with a club pen and a lifetime AIC membership, “with all its benefits and obligations”.
Paige Holt, March 19, 2019