Rémy Cointreau CEO Eric Vallat Resigns

Rémy Cointreau CEO Eric Vallat has resigned, stepping away from the spirits company after five years at the helm. According to the company, Vallat is stepping down to take on another professional opportunity. Vallat’s resignation is effective this summer and the chair of the company’s board, Marie-Amelie de Leusse, will manage business until Vallat’s successor is chosen.

Vallat’s departure comes during a particularly challenging period for Rémy Cointreau. In January, the company posted sales down 18% to €788 million ($819m) for the first three quarters of its fiscal year, with the company noting at that time that depletions improved in the U.S. in the three months through December. The company’s Cognac division continued to struggle as of January, with sales declining 19% to €497 million ($516m) over the nine-month period, with U.S. depletions continuing to be negative.—Shane English

Tagged : Remy Cointreau

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