French spirits group Rémy Cointreau has appointed Franck Marilly as its new CEO.
Marilly, whose appointment is effective 25 June, will succeed Éric Vallat, who stepped down last month to pursue “a new professional project”.
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The newly appointed CEO brings over three decades of experience from FMCG companies including Unilever, Chanel and the Japanese group Shiseido.
Marie-Amélie de Leusse, chairwoman of the board of directors of Rémy Cointreau said: “We are convinced that he [Marilly] will bring a new dynamic and will be able to confidently address the new challenges of the group’s growth in a complex macroeconomic and geopolitical context.”
At Shiseido, which he joined in 2018, Marilly was the president and CEO of the EMEA region and the global fragrance division.
Prior to joining the Japanese company, he spent nearly 17 years at Chanel, where held the title of chief executive of the EMEA region for the group’s fragrance and beauty unit, and held multiple executive positions at multiple international subsidiaries.
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By GlobalDataBefore his time at Chanel, Marilly was president of the fragrance division for Unilever in France and held general management positions in various international subsidiaries.
According to the Bruichladdich Scotch whisky owner, Marilly will bring “solid experience in international management, which is crucial for the global success of the group, as well as his deep knowledge of its key markets”.
In February, Marilly was appointed Foreign Trade Advisor of France by a decree signed by the Prime Minister.
Commenting on his appointment, Marilly said: “Rémy Cointreau is today recognised for its unique centures-old heritage and its portfolio of exceptional brands. I will levearge my experience to pursue its value strategy and support the teams in a dynamic of sustainable performance.
“Together, we will continue to accelerate the Group’s development, capitalising in particular on the excellence of its know-how and its capacity for innovation, while meeting the expectations of a constantly evolving sector.”
In its most recent financial update, Rémy Cointreau reported an 18% drop in annual sales on an organic basis, totalling €984.6m ($1.12bn).
It is in line with the Rémy Martin Cognac manufacturer’s prediction in January forecast that its sales would land “at the lower end of the guidance range (close to 18%)”.
Rémy Cointreau will announce its complete yearly results in June, having confirmed on 30 April its 2024-25 “current operating margin” goal of 21% to 22% on an organic basis.
The group’s Cognac division, which accounts for most of its revenue, experienced a 32.8% sales decline on an organic basis in the fourth quarter that ended in March, affected by an industry-wide halt on sales via China’s duty-free channel.
In the Americas, Rémy Cointreau’s Cognac sales “rebounded sharply”, especially in the US, according to the company.
