Rémy Cointreau appoints Franck Marilly as CEO

Taking over from Eric Vallat, who has held the reins at the French spirits house for five years, Marilly will head up the company from June. Lauding Rémy Cointreau's "centuries-old heritage " and "portfolio of exceptional brands", new CEO Franck Marilly said he was looking forward to capitalising on the group's "capacity for innovation" in order to accelerate its fortunes. Marilly, who has previously worked for big-hitting luxury brands including Chanel and Unilever, will work alongside outgoing Vallat for an unspecified period of time to ensure a smooth transition. As db reported, Vallat revealed in April that he was stepping down as CEO in order to "dedicate himself to a new project". Details have not yet been shared about the nature of his new venture. Marie-Amelie de Leusse, chairman of the board of directors at Rémy Cointreau, said that Marilly's "in-depth knowledge of international environments" and his "people-oriented management style" had been pivotal to the board's decision to appoint him to the role. "We are convinced that he will bring a new dynamic and will be able to confidently address the new challenges of the Group's growth in a complex macro-economic and geopolitical context," she added.

Task ahead

Indeed, Marilly joins the role at a seismic time for the company. In the first nine months of the financial year 2024-25 organic sales nosedived by 17.8%, falling further still - by 21.5% - in the third quarter. Rémy Cointreau's fate has been inextricably linked to the anti-dumping tariffs China has been threatening, which would mean soaring import taxes applied to European-made brandy coming into China. Fortunately for Rémy, in March China postponed the measures for three months, which French Foreign Minister Jean-Noel Barrot called "a significant first step towards resolving this dispute." The ripple effect was almost immediate. In April 2025 Rémy Cointreau saw a sharp recovery in US Cognac sales, which lifted its share price in Paris, suggesting things are on the up. However, Marilly would be wise to remain cautious as the situation continues to unfold. Last year, the group launched a €50million cost-saving programme in a bid to protect its margins, and this may prove crucial in weathering headwinds throughout 2025.