Remy launched the scheme last month

Remy launched the scheme last month

Remy Cointreau has halted its share buyback programme after recovering EUR75.9m (US$103.3m) worth of stock.

The returned shares, which represent 2.578% of Remy's share capital, will now be cancelled, the company said yesterday (29 January). The Paris-headquarterd group launched the programme on 4 December and acquired 1,283,053 shares, at an average price of EUR59.1639. 

In November, Remy split shares worth EUR20.3m among its staff. The windfall came from stock purchased in a share buyback programme.

Earlier this week, the group said it has appointed a new CEO for its Rémy Martin Cognac division, four days after it revealed the previous incumbent, Patrick Piana, had left.