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2d ago

Remy Cointreau appoints Franck Marilly as CEO following steep sales decline

He assumes the role on June 25 to steer the Cognac maker through tariff-driven headwinds across key export markets.

Bottles of Remy Martin VSOP cognac, Remy Martin XO cognac and St-Remy XO Brandy are displayed at the Remy Cointreau SA headquarters in Paris, France, January 21, 2019. REUTERS/Benoit Tessier/File Photo
A man pours Remy Cointreau into a glass at the Remy Martin factory in Cognac, France, November 21, 2018. REUTERS/Regis Duvignau/File Photo
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Overview

  • Franck Marilly will succeed Éric Vallat as CEO on June 25 after Vallat stepped down last month to pursue a new professional project.
  • Marilly brings over 30 years of leadership experience at Unilever, Chanel and Shiseido, and was named Foreign Trade Advisor of France in February.
  • Remy Cointreau reported an 18% drop in annual organic sales to €984.6 million in the financial year ending March.
  • The Cognac division, which contributes about 70% of group revenue, saw a 32.8% organic sales decline in the fourth quarter.
  • Marilly inherits a complex macroeconomic and geopolitical context, with halted China duty-free sales and looming U.S. tariff threats weighing on demand.