Another Family Member Quits the Swarovski Crystal Empire
January 03, 22
(IDEX Online) - Nadja Swarovski has stepped down as executive board member and quit the family firm known for its crystal jewelry.
The move, on 31 December 2021, follows a number of other departures by members of the Austria-based Swarovski family, and the appointment of outsiders to key positions, for the first time in the company's 126-year history.
Nadja, 51 (pictured), had already quit her brand and marketing role as part of a major management reshuffle. She said in a statement that her time at the company had been "the most rewarding journey".
She championed new design talent and was a sustainability pioneer in her 26 years at the company.
Robert Buchbauer, great-great grandson of the company's founder Daniel, was appointed CEO in April 2020 but quit 18 months later.
Mathias Margreiter, also a member of the Swarovski family, served as CFO. He also quit last October. Both are likely to be replaced by family outsiders.
A year ago the company announced plans to shed 6,000 staff, shut 750 stores and take the brand upmarket, as it faced stiff competition from cheap Chinese copies of its goods and a decline in sales.