Farnier replaces Vallat as Rémy Martin CEO

Philippe Farnier will succeed Eric Vallat as CEO of Rémy Martin Cognac, prompting a wider executive reshuffle within parent company Rémy Cointreau.

Philippe Farnier has been named new CEO of Rémy Martin

Vallat, who joined Rémy Martin in 2014, has left the group to “take his career in a new direction, within another industry”, according to a statement.

Philippe Farnier will step into the role of CEO of Rémy Martin, leaving his post as CEO of the Americas region for Rémy Cointreau on 1 June.

Current CEO of the global travel retail division, Ian McLernon, will become the group’s new CEO of the Americas region, with David Ennes taking over McLernon’s previous position.

Valérie Chapoulaud-Floquet, CEO of Rémy Cointreau, said: “On behalf of the group, I would like to offer Eric my personal thanks for his continuous and inspired engagement since January 2014.

“Within a challenging market environment, he successfully revamped the strategy of the House of Rémy Martin, accelerating its move upmarket, and building the foundations for a prosperous earnings outlook.

“I wish him every success in his future career, and I wish all the best to the members of the executive committee in their new roles.”

In its most recent financial earnings report, Rémy Cointreau saw ‘remarkable growth’ in the Asia Pacific region, which bolstered its half-year sales.