(Reuters) – Rémy Cointreau announced on Wednesday the arrival of Franck Marilly as managing director of the group, as of June 25, 2025, when he succeeded Eric Vallat, who resigned in April after more than 5 years at the head of the group.

Franck Marilly, 59, graduated from EDC Paris Business School and previously exercised functions within Chanel, Unilever or Shiseido.

In the management of Rémy, he will have the challenge of dealing with the weakness of demand and the threat of customs duties in the group’s key markets that are the United States and China.

He will ensure with Eric Vallat a harmonious transition, specifies a press release.

“We are convinced that he (Franck Marilly) will bring a new dynamic, and will be able to approach with confidence, in a complex macroeconomic and geopolitical context, the new challenges of the group’s growth” said Marie-Amélie de Leusse, president of the board of directors, in the press release.

“Together, we will continue to accelerate the development of the group, by capitalizing in particular on the excellence of its know-how and its capacity for innovation, while meeting the expectations of a constantly evolving sector,” said Franck Marilly.

At 9:24 am GMT on the Paris Stock Exchange, the title Rémy Cointreau ceded 1.94%, to 46.40 euros.

China, United States and customs duties

Rémy, which achieves almost 70% of its turnover with Cognac, mainly in the United States and China, was put under pressure by the gloom of the Chinese economy, Beijing also threatening the European sector of spirits of surcharge in the context of an anti-competitive survey.

If an agreement has still not been reached between China and the European Union (EU), Beijing decided in April to extend its survey, offering European producers a stay before possible customs duties.

The American market could also be assigned by customs issues, American president Donald Trump having set the deadline of July 9 to allow the EU to find a trade agreement with the United States, under penalty of inflicting 50% rights on all products.

Last week, a source from the Cognac sector told Reuters that it would be impossible to sell in the United States with such customs duties.

In addition, high interest rates and inflation led to strong reductions in remy sales in the United States, where its competitors have also reduced their prices and won market share.

The group of spirits, however, maintained its approach consisting in cultivating the value of its high -end brands, a strategy which, according to the group, would be compromised by price reductions.

Rémy said that Franck Marilly would continue this value -focused approach and develop on new markets, although investors warned that it would take time for diversification to give results.

(Written by Etienne Breban, with the contribution of Dominique Vidalon, edited by Augustin Turpin)

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