By Michelle Graff
Zurich—Media reports surfaced Thursday indicating that Jean-Claude Biver is stepping back from his role as head of the watch division for LVMH, which owns TAG Heuer, Hublot and Zenith.

Reuters published a short news item early Thursday then updated the story later in the day to include quotes from Biver, who confirmed the change.

The longtime and well-respected watch executive, who has been overseeing the watch business at LVMH since 2014 and has been with the luxury conglomerate since 2008, told the news service he’s dropping his operational responsibilities but will remain as a non-executive president for the watch division.

The 69-year-old cited serious health concerns but noted that he has been feeling better in recent months.

Biver declined to comment to Reuters on another news report stating that his replacement would be Stephane Bianchi, who once headed French cosmetics group Yves Rocher.

LVMH had not issued a formal release or responded to National Jeweler’s inquiry on the matter by press time.

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