Remy Cointrow appoints a new CEO
French spirit group Remy Contreau has appointed Frank Marily as new CEO.
Marily, appointed on June 25th, will replace Eric Vallatt, who resigned last month to pursue a “new specialist project.”
The newly appointed CEO brings over 30 years of experience from FMCG companies, including Unilever, Chanel and Japanese Group Siseid.
Marie Amery de Ruth, chairman of Remy Contraau’s board of directors, said:
At Shiseido, where he joined in 2018, Marily was president and CEO of EMEA Regional and Global Fragrance.
Prior to joining a Japanese company, he held the title of EMEA Regional Chief Executive Officer of the group’s Fragrance and Beauty Unit and spent nearly 17 years at Chanel, where he held multiple executive positions for several international subsidiaries.
Before her stay at Chanel, Marily was chairman of the fragrance division of Unilever, France, and held general managerial positions for various international subsidiaries.
According to the owner of Bruichladdich Scotch Whiskey, Marilly “conveys a robust experience in international management that is important to the group’s global success and his deep knowledge of its key markets.”
In February, Marily was appointed as French foreign trade advisor by an order signed by the Prime Minister.
Commenting on his appointment, Marily said: “Remy Cointrow is today recognized for its unique century heritage and portfolio of exceptional brands. I collect my experience in pursuing its value strategy and supporting the team with sustainable performance dynamics.
“Together, we will continue to accelerate the development of the group, and meet the expectations of the ever-evolving sector, particularly while leveraging the excellence and capabilities of our know-how.”
among them Recent financial updatesRemy Cointrow reported an organic basis down 18%, a total of 984.6 million euros ($1.12 billion).
In line with the January forecast of Remy Martin Cognac makers, its sales are projected to land “at the bottom edge of the guidance range (close to 18%).”
Remy Cointrow announced the full annual results in June, confirming its “current operating profit margin” target of 21% to 22% on an organic basis from 2024 to 25 on an organic basis.
The group’s cognac division, which accounts for the majority of revenue, saw sales decline of 32.8% on an organic basis in the fourth quarter, which ended in March, and was affected by industry-wide discontinuation via China’s tax-free channel.