Eric Vallat, the head of Rémy Cointreau for the last five years, has resigned as group CEO.
The announcement, issued from Paris earlier today (9 April), has prompted the commencement of a search for a new lead, with board chair Marie-Amelie de Leusse taking on the CEO responsibilities on an interim basis. Vallat’s resignation, which takes effect “this summer”, will see him leave to “dedicate himself to a new professional project”, Rémy said.
Vallat took the helm in late 2019, when he rejoined Rémy after 18 months as head of the fashion and accessories units at the Richemont Group. Prior to his time with the Cartier owner, he spent four years with Rémy, first as CEO of cognac flagship Remy Martin before becoming president of the Mount Gay rum brand.
His five years as lead were shaped by the Covid pandemic, which arrived in Europe around three months after he assumed the position. Since booking a healthy return to growth in fiscals 2022 and 2023 (to the end of March, however, the group has struggled, posting seven consecutive quarters of top-line declines up to the end of December last year.
“I would like to express our sincere gratitude to Eric for his commitment, leadership and strategic vision,” de Leusse said in today’s statement. “Over the past five years, marked by Covid, a period of exceptional growth and more recently, a volatile economic and geopolitical environment, Eric has successfully maintained the course of a long-term value-driven strategy.
“We wish him every success in his future endeavours.”
Vallat added: “I will be leaving the group with the sense of having strengthened its foundations. I am convinced that my future successor will be able to rely on strong brands to prepare for the recovery and give new momentum to our value strategy.”
