Remy Cointreau third-gen Francois Heriard Dubreuil will temporarily return to his post as chief executive of the family business, after the existing non-family CEO announced he would quit.
In a statement released yesterday, the drinks giant confirmed Frederic Pflanz had handed in his resignation – just three months after he was appointed to the role – due to “personal reasons”.
Prior to taking the helm of the company, Pflanz had been the family firm’s chief financial officer for three years, and more recently had been appointed chief operating officer.
But, in November, the company announced sales were down 6.3% to €558 million for the six months to September compared to the previous year.
Heriard Dubreuil, 65, is currently chairman at the liquor giant – a position he took over from his sister, Dominique Heriard Dubreuil, 67, in 2012.
In 1924 his family acquired Remy Martin – then a 200-year-old business – before it merged with family-controlled Cointreau in 1990.
He previously served as chairman of the Remy Martin Group, before the company was merged, before becoming CEO of the Remy Cointreau Group for 10 years.