Swiss watch brand Parmigiani Fleurier has appointed Guido Terreni (pictured), former president of Bulgari’s watchmaking division, as CEO.

He replaces Davide Traxler, the veteran watch executive who was appointed the company’s head in 2018. A company statement said that Traxler has “decided to pursue professional opportunities outside the group.” He has also resigned from the company’s board.

Terreni, 51, joined the watchmaking division of the Bulgari Group in 2000, and was appointed president of Bulgari Horlogerie in 2010, serving as its head until 2020.

In that role, Terreni “turned Bulgari into a fully fledged premium watch brand” that won “57 international watchmaking prizes and 6 world records in the area of ultra-thin movements,” said a statement from Parmigiani Fleurier.

Outgoing CEO Traxler said in a statement, “When I joined Parmigiani in mid-2018, we focused on improving company profitability as well as optimizing the product range and structures. We have made major progress in this area. The next stage will be centered on long-term strategic brand realignment.”

(Photo courtesy of Parmigiani Fleurier)