FRANCE: Laurent-Perrier lines up directorial switch after resignation

By | 9 July 2013

Laurent-Perrier has proposed a new director

Laurent-Perrier has proposed a new director

Laurent-Perrier has proposed a change to its board after one director resigned his position.

The Champagne house, which is listed on the French stock exchange, said earlier today (9 July) that Marie Cheval has been co-opted by its board as a member. Cheval would replace Grant Gordon, who has resigned “for personal reasons”, the company said.

Cheval, 38, was head of global transaction & payment services for Société Générale before moving to Boursorama as chief executive.

“[Cheval] will strengthen the board, to which she will bring her in-depth knowledge of the Champagne region and her extensive experience in finance and management,” Laurent-Perrier said.

Her appointment is subject to the approval of the group's next general meeting of shareholders, scheduled for July next year.

Last month, Laurent-Perrier posted a slide in full-year net profits, despite a 2% lift in sales in the 12 months to the end of March.

Expert analysis

Global market review of Champagne – forecasts to 2016

Some of the issues and challenges addressed in the previous edition of just-drinks' Champagne report continue to influence a category struggling to grow. Recovery from economic downturn and tumbling sales was evidenced in 2010 and part way through 2011, only to be replaced with a further slow down at the end of that year and continuing into 2012. This has been more prevalent in the western European countries. Elsewhere there has been better sales performance, noteably in the US and Japan, significantly in Australia and not forgetting the burgeoning economies of Asia and Greater China. However, even these new markets can only go part way to offset the situation in the more mature markets, to such an extent that total Champagne shipments are expected to rise only slightly during 2012. According to the report, pronounced growth is unlikely until 2015.|

Sectors: HR – personnel, Wine

Companies: Perrier

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FRANCE: Laurent-Perrier lines up directorial switch after resignation

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