Richemont’s fashion and accessories chief Eric Vallat is stepping down a little over a year after taking up the job. The parent of Cartier, IWC and Van Cleef & Arpels said Tuesday that Vallat will step down from his current position and from the senior executive committee for personal reasons. This change is effective Oct. 26, 2019.

Richemont’s chairman Johann Rupert said: “Eric has been offered a wonderful opportunity outside the group and I fully understand his decision to pursue it. The fashion and accessories businesses will report to Jérôme Lambert, group chief executive officer. Brands in Richemont’s fashion and accessories stable include Chloé, Dunhill and Maison Alaïa.

As reported, Alaïa has a new chief executive in Myriam Serrano, who joined the fashion house from Chloé earlier this month. Vallat took up his newly-created role at Richemont on June 1, 2018, reporting to Lambert. Before joining Richemont, he was ceo of Rémy Martin and has worked for Louis Vuitton in Europe, Christian Dior Couture in Japan, Bonpoint and J.M. Weston.