FRANCE: Rémy Cointreau unveils Pflanz as CEO-elect
Laborde is expected to step down in September
Rémy Cointreau has revealed finance director Frédéric Pflanz as its successor to Jean-Marie Laborde, who will step down as chief executive at the end of September.
Pflanz, who only joined Rémy in 2010, will take over on 1 October once his appointment is approved by the board, the company said today (20 June). Earlier this month, Laborde's contract was extended to 30 September, Rémy said.
Pflanz joined Rémy from L'Oreal as CFO, but it was his promotion late last year to COO alongside Laborde that analysts said put him in line for the top job. Laborde, who has been CEO since 2004, was expected to announce his retirement this year as he will be 65 in July.
Laborde will leave the company in good shape, but this month an analyst warned that a slowdown in Cognac sales in China had already affected margins.
Rémy Cointreau punches above its weight in spirits, having established itself as a major global player in cognac despite its relatively small size compared to Pernod Ricard and LVMH. China has been it...
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