Pernod Ricard has proposed two new independent directors to its board – ex-Suntory CEO Albert Baladi and chairman of BNP Paribas Jean Lemierre.
According to the international beverage giant, the board of directors proposed the appointments on the recommendation from the nominations and governance committee.
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Both directors will be formally proposed for appointment at the annual general meeting on 27 October and will be appointed for a four-year term.
The appointments follow Ms. Namita Shah’s decision not to have her term as director renewed.
During his 13 years at Beam Suntory (now Suntory Global Spirits), Baladi held the positions of president of the international region, president of North America and then CEO.
Baladi stepped down from the CEO position in 2023. At the time, he said that due to a “clear growth strategy in place for the future and the right team in place, now is the right time to hand the reins over to my successor”.
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By GlobalDataThe company achieved international expansion in the spirits industry under his leadership. Baladi has also held roles at PepsiCo and Yum! Brands.
Meanwhile, Lemierre has been chairman of the board of directors of BNP Paribas since 2014.
He has also previously served as director general of the French treasury, chairman of the European Union Economic and Financial Committee, and president of the European Bank for Reconstruction and Development.
If the AGM approves the corresponding resolutions, the board of directors will have 15 members, with two representing the employees.
The news comes as Pernod Ricard has launched “an internal project” aimed at creating “a more agile and simplified organisation”.
In June, the group told Just Drinks that its teams “work on an ongoing basis to adapt our organisation and ways of working to the fast-evolving business environment”.
The directorate change also comes as the firm has agreed to the sale of its Imperial Blue whisky business to India’s Tilaknagar Industries.
