Rémy Cointreau CEO Eric Vallat steps down

GlobalData

Thu, Apr 10, 2025, 10:06 AM 3 min read

Rémy Cointreau CEO Eric Vallat has resigned aft 5 years astatine the helm of the French spirits group.

The resignation was confirmed successful a connection released by the company’s committee of directors, chaired by Marie-Amélie de Leusse, yesterday (9 April).

Vallat is leaving to prosecute “a caller nonrecreational project,” Rémy Cointreau said.

A enactment process for a caller CEO is ongoing. De Leusse volition “oversee the modulation period” to guarantee “the continuity of the group's operations and the due implementation of the strategical direction”, the institution said.

Vallat said: “I volition beryllium leaving the radical with the consciousness of having strengthened its foundations, and I americium convinced that my aboriginal successor volition beryllium capable to trust connected beardown brands to hole for the betterment and springiness caller momentum to our worth strategy.

The presumption and conditions of Vallat’s departure, including immoderate compensation, volition beryllium presented to shareholders astatine Rémy Cointreau’s adjacent wide meeting, the connection added.

De Leusse said: “Over the past 5 years, marked by Covid, a play of exceptional growth, and much precocious a volatile economical and geopolitical environment, Eric has successfully maintained the people of a semipermanent value-driven strategy.

“Under his leadership, the radical implemented a portfolio strategy that enabled america to summation marketplace stock for our liqueurs & spirits division, make an businesslike and effectual integer plan, and fortify the modulation to sustainable development.”

In a enactment to clients, Bernstein expert Trevor Stirling, who covers Rémy Cointreau for the concern bank, said: "It’s a cliché but his tenure has genuinely been a elephantine roller-coaster, starting with the slump that came from the Covid closures, followed by the elation of post-Covid revenge conviviality, and much precocious the normalisation of US consumption, the situation of assurance successful China, compounded by tariffs successful some China and the US. Through each of this, we viewed Eric arsenic a precise competent CEO, navigating these turbulent waters arsenic good arsenic anyone could expect."

In its astir caller trading update published successful January, Rémy Cointreau reported a 17.8% driblet successful integrated income to €797.9m ($878.7m) for the 9 months ended successful December 2024.

Third-quarter income fell 21.5% organically and by 20.6% and connected a reported basis, respectively.

Alongside those results, Rémy Cointreau projected its yearly integrated income diminution to beryllium "close to 18%" and astatine “the little end” of its guidance arsenic the institution continued to look challenges successful the US and China.

In the archetypal fractional of the fiscal year, the Cointreau liqueur shaper booked €533.7m successful sales, down 15.9% organically and 16.2% connected a reported ground year-on-year.