What Style of Leadership Do We Need in an Uncertain World?

On September 24, Ilaria Resta, CEO of Audemars Piguet, and Marianne Schmid Mast, Dean and Professor at HEC Lausanne, were invited to speak at a conference co-organized by Luxury Tribune and the Swiss Center for Luxury Research (SCLR) on the HEC Lausanne campus. Students, alumni, and Luxury Tribune readers gathered around a crucial theme: what type of leadership should we adopt in an uncertain world?

Today’s geopolitical climate and the many global crises that stem from it are challenging traditional governance models, both political and corporate. The luxury sector, at the heart of these shifts, is facing an unprecedented crisis, driven largely by a decline in consumption in China. On top of this, generational change brings with it new mindsets, often clashing with norms that have been in place for decades. In this context, what style of leadership should be chosen, and how should it be implemented? What defines a good leader? These were just some of the questions asked by Cristina D’Agostino, Editor-in-Chief and Founder of Luxury Tribune, and Felicitas Morhart, Professor of Luxury Marketing at HEC Lausanne and Founder of the SCLR, both of whom hosted the conference.

Ilaria Resta, who has led the watchmaking house Audemars Piguet since September 2023 after a 23-year career at Procter & Gamble where she held numerous senior international positions, explained: “Each company, each industry, has its own heritage, its culture, its norms, which as a leader you need to quickly integrate. I call this emotional intelligence—the ability to read those signals and adapt to them.” A delicate challenge, especially following the departure of François-Henri Bennahmias after more than a decade at the helm: “My leadership style resonated very well with Audemars Piguet’s family spirit, and the organization was fully ready to embrace it. What was more complex, and required time, was building trust with employees. Everything comes down to listening and adapting.”

The circular leadership model practiced by Ilaria Resta places the leader at the center of the organization—quite the opposite of the traditional top-down pyramid. “The idea of circular leadership is to create connections at every level, to open doors to all employees, and above all, to bring the leader closer to reality,” she explained.

Meanwhile, Marianne Schmid Mast, who also holds a leadership role within the university, emphasized transparent leadership, free from destabilizing decisions and built on dialogue: “For me, the most important thing is to remain entirely predictable, to stay true to oneself, and to be recognized for who you really are,” she said. “Universities have always been places of freedom, of ideas, of discussions, even of revolutions. It’s exciting to see new forms of entrepreneurship and thought emerging. On the other hand, I think we must be careful with the shift we are seeing: a more aggressive and less constructive mode of discussion. That’s why I try to teach our students the importance of dialogue,” she concluded.

The discussion then turned to a fundamental question: what defines a good leader today? For Ilaria Resta, the answer—repeated throughout the conference—was clear:

“A good leader is always open to learning. They learn first, then act, not the other way around. They are humble yet bold. They build trust with their teams by taking time. They understand and learn quickly by adapting to today’s norms.” She also shared her vision for the future: “My vision for Audemars Piguet is to perpetuate the independence of this family-owned manufacture. It is a huge responsibility to represent the interests of people who carry the name of your company. I call this mission ‘pioneering time’—knowing how to look ahead, bring innovation, while respecting what has been achieved in the past.”

But maintaining independence is no small feat in such a polarized and unpredictable world. How can one remain agile? “I think the most important thing is to rely on the fundamentals of your company—its financial health—so you can lead a business that weathers turbulent times while having the skills to adapt to new norms and keep learning. The problem with leaders today? They think they know everything, they are overconfident, and believe that past models can be applied to the future, which is totally wrong,” Resta said.

Recently, Resta herself has had to demonstrate agility. Faced with false rumors about her potential departure, she quickly reestablished the truth. She described it as an “inevitable” trial for any leader in the public eye: “In such situations, the most important thing is to protect the people around you, immediately explain what is happening, and work as a team. But it’s something every leader faces, and it contributes to our growth,” she told the audience.

Finally, the conversation opened up to the definition of success—a term with many interpretations depending on the style of leadership. For Ilaria Resta: “Success is measured by agility in learning. It comes from curiosity and the ability to ask the right questions.” While most companies measure success with financial data, the CEO prefers to measure it by legacy: the quality of the company left behind and the mental health of its employees. “As a leader, you need to choose the pace of growth you want. Too often, leaders choose speed—doing more and selling more—which is very dangerous if you don’t have a stable structure around you.”