Rémy Cointreau has named Valerie Chapoulaud-Floquet its new CEO

Troubled French spirit house Rémy Cointreau has appointed the former head of L’Oreal as its new CEO.

Valerie Chapoulaud-Floquet will replace former Group CEO Frédéric Pflanz, who stepped down in January, from September, reporting to group chairman François Hériard Dubreuil.

Chapoulaud-Floquet is currently President and CEO of the Americas for luxury brand Louis Vuitton, part of LVMH, which owns whisky brands Ardbeg and Glenmorangie, and champagne houses Dom Pérignon and Moët & Chandon. 

Hériard Dubreuil commended her outstanding leadership qualities, keen understanding of the brand and knowledge of the luxury sector, and said her appointment marked a new phase in the ambitions of the company.

The news comes a week after Rémy Cointreau posted annual results showing net profits fell 46.9% to €80.2m, with sales down 10.7% to €1.03bn. It blamed this on last year’s high comparables and the effect of destocking in China, as well as an unfavourable geographical mix and a “continuing policy of sustained investment” in its brands and distribution network.

In March it cancelled shares representing 2.6% of capital and signed an extension to its €255m revolving credit facility to April 2019.