News End of August, Thierry Stern took over the presidency of Patek Philippe SA Geneva and was appointed President of the Board of Directors, taking over from his father Philippe. The firm thus confirms its mission as a family run business in the hands of the fourth generation. The company also preserves its total financial and technological autonomy, the well established foundation for its leadership position in the world of fine watchmaking.
Born in 1970, Thierry Stern grew up in the world of watchmaking. As of 1990, he embarked on a hands-on training path which took him on regular intervals from production workshops to business management, with time spent working with subsidiaries and retailers in both Germany then the USA. From 1997 to 1998, Thierry Stern was in charge of the Benelux market. In 1998, he was appointed head of the Creation Department and quickly took part in group strategic decisions by taking over the position of vice-president.
Founded in 1839 by Antoine Norbert de Patek who was joined by Jean-Adrien Philippe in 1845, the Patek Philippe watchmaking company has been in the hands of the same family since 1932. Indeed the Stern brothers Charles and Jean acquired the firm that year. In 1958, Henri Stern took over the management and presidency of Patek Philippe from his father Charles. Before assuming that position, Henri spent more than 20 years in New York where he founded the Henri Stern Watch Agency, which became the unique distributor of Patek Philippe watches on the US market.
Philippe Stern, son of Henri, began his career in the family firm in 1964. As the third generation to run the family business, he was appointed Managing Director in 1977. In 1993 he took over the presidency. Philippe Stern marked the history of Patek Philippe by contributing to its development and leading position in fine watchmaking.
Patek Philippe is run by its Management Committee currently composed of Thierry Stern, president, Philippe Stern, honorary president, and Claude Peny, CEO.
October 26, 2009
