Remy Cointreau shakes up senior management
Remy Cointreau, the company behind luxury spirits like Cointreau and Mount Gay Rum, has announced a shake up at the senior management level. This follows the news that Eric Vallat, the current CEO of the House of Remy Martin and president of Mount Gay Rum, has “decided to take his career in a new direction, within another industry.”
Remy Cointreau’s share price has increased by 52% in the past 12 months
SOURCE: Yahoo Finance
In a press release, the company said that Philippe Farnier, currently the CEO of the Americas region, will replace Mr. Vallat as CEO of the House of Remy Martin. As such, he will have responsibility for the Remy Martin and Louis XIII brands. Taking on Mr. Farnier’s role as CEO of the Americas will be Ian McLernon, who is currently the CEO of the Global Travel Retail division. Replacing McLernon at the Global Travel Retail division will be David Ennes, who will add it to his role as CEO of the Asia region.
Mount Gay Rum will be added to Jean-Deni Voin’s portfolio as CEO of the Liquers and Spirits division.
The company’s CEO, Valerie Chapoulaud-Floquet, released a statement over the reshuffle, saying:
“On behalf of the Group, I would like to offer Eric my personal thanks for his continuous and inspired engagement since January 2014. Within a challenging market environment, he successfully revamped the strategy of the House of Rémy Martin, accelerating its move upmarket, and building the foundations for a prosperous earnings outlook. I wish him every success in his future career, and I wish all the best to the members of the Executive Committee in their new roles.”
Dominion holds Remy Cointreau in its Global Trends Luxury Fund.
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