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New Davidoff to Retail for $500
- More from News & Features
Change at Top for Davidoff
Posted: June 27, 2006
Schneider acquired the Davidoff shop from Zino Davidoff for $930,000 in 1970, and the two built Davidoff into a global empire. Where as it was once only a cigar shop and a cigar brand, the name now appears on a variety of luxury products, including fragrances.
Riccardo Gullotti, a member of the Oettinger Imex board, will succeed Schneider as chairman. Day-to-day operations of the group are handled by chief executive officer Reto Cina.
Schneider, who said in a statement that he stepped down "in order to unburden" himself, will remain a member of the board.
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