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Future Changes to the Board of Directors of Rémy Cointreau
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
The Board of Directors of Rémy Cointreau has proposed key governance changes to be approved at the General Meeting on July 21, 2022. Marie-Amélie de Leusse is nominated as Chair, succeeding Marc Hériard Dubreuil, while Alain Li is proposed as an independent director. Marie-Amélie has been Vice-Chair since July 2019 and has a strong background in finance within the company. Additionally, Caroline Bois is proposed as Vice-Chair. These changes reflect a generational transition in leadership, maintaining continuity in the company's strategic direction.
Positive
Appointment of Marie-Amélie de Leusse as Chair brings fresh leadership and continuity.
Alain Li's extensive experience in luxury goods strengthens the Board's expertise.
Negative
Transition of leadership may raise concerns about continuity and experience gaps.
Marie-Amélie de Leusse proposed as Chair of the Board of Directors
PARIS--(BUSINESS WIRE)--
Regulatory News:
The Board of Directors of Rémy Cointreau (Paris:RCO), chaired by Marc Hériard Dubreuil, has decided, in accordance with the recommendations of the Appointments and Remuneration Committee, to put forward the following proposals at the General Meeting to be held on 21 July 2022:
That Hélène Dubrule, Olivier Jolivet and Marie-Amélie de Leusse be reappointed as directors for a term of three years and that the directorship of Orpar SA be renewed for that same term
That Alain Li be appointed an independent director1, to replace Marc Hériard Dubreuil, for a term of three years
Alain Li, 61, has dual French and Hong Kong nationality. He has served as Chairman and Chief Executive Officer of Richemont since 2006. After graduating from City, University of London with a bachelor’s degree in economics and accounting, he began his career at Bristol Meyers as a financial analyst before being appointed to a project management position in Japan. Three years later, after a stint with GE as Financial Controller for Europe, he joined the finance department at RISO EMEA, where he rose to become Vice-President, Europe. In 2001, he became Chief Financial Officer and Executive Director of IDT International before going on to join Richemont. The Board of Directors was keen to have an independent director with substantial experience in both Asia and the luxury goods sector in roles as an executive director and chief financial officer.
Furthermore, as part of its longstanding succession plan, the Board of Directors has decided to make the following changes to Rémy Cointreau’s governance:
Appointment of Marie-Amélie de Leusse as Chair of the Board of Directors
Marie-Amélie de Leusse, 44, has served as Vice-Chair of the Board of Directors of Rémy Cointreau since 24 July 2019. She is also Deputy Chief Executive of the family holding company, Andromède, Rémy Cointreau’s principal shareholder. After graduating from the ESCP-EAP business school, Marie-Amélie de Leusse began her career at Société Générale Investment Banking in London before joining NM Rothschild & Sons, where she held a number of positions in the capital goods team working on mergers and acquisitions. Between 2010 and 2016, she held a number of roles within Rémy Cointreau’s finance team, first in Paris and subsequently in Singapore. Marie-Amélie de Leusse is the daughter of Dominique Hériard Dubreuil.
If she is reappointed as a director at the General Meeting to be held on 21 July 2022, the Board of Directors will propose that Marie-Amélie de Leusse be appointed Chair of the Board of Directors to replace Marc Hériard Dubreuil, who will represent Orpar SA, the holding company owned by Andromède.
Following the chairmanships of Dominique Hériard Dubreuil, François Hériard Dubreuil and Marc Hériard Dubreuil, this appointment would be perfectly in keeping with the generational transition between members of the Hériard Dubreuil family on the Board of Directors, a process that began several years ago.
Appointment of Caroline Bois as Vice-Chair of the Board of Directors
Caroline Bois, 45, is Deputy Chief Executive of Andromède and has been a member of the Board of Directors of Rémy Cointreau since 24 November 2020. A graduate of the HEC business school and holder of a master’s degree from INSEAD’s Management Acceleration Programme, from 1998 Caroline Bois held various management roles in finance and project management at Freelance.com, Dictis and International SOS. She joined Rémy Cointreau in 2014, serving as Head of Group Financial Control and Planning from 2014 to 2019. Caroline Bois is the daughter of François Hériard Dubreuil.
Since Marie-Amélie de Leusse, as future Chair of the Board of Directors, would no longer be able to sit on the Appointments and Remuneration Committee, as well as Gisèle Durand who will no longer represent ORPAR, Caroline Bois and Elie Hériard Dubreuil, son of Michel Hériard Dubreuil, would join that committee.
Furthermore, the Board of Directors will appoint Jérôme Bosc to replace Jacques Hérail as a non-voting member of the Board of Directors of Rémy Cointreau.
Jérôme Bosc, 43, is Chairman of Alboran, which manages a portfolio of hotels and offers an end-to-end hotel services platform ranging from investment through to operational management of individual hotels. As Marc Hériard Dubreuil’s son-in-law, he will represent the principal shareholder.
These appointments will take effect at the meeting of the Board of Directors that will follow the General Meeting to be held on 21 July 2022.
About Rémy Cointreau
All around the world, there are clients seeking exceptional experiences; clients for whom a wide range of terroirs means a variety of flavors. Their exacting standards are proportional to our expertise – the finely-honed skills that we pass down from generation to generation. The time these clients devote to drinking our products is a tribute to all those who have worked to develop them. It is for these men and women that Rémy Cointreau, a family-owned French Group, protects its terroirs, cultivates exceptional multi-centenary spirits and undertakes to preserve their eternal modernity. The Group’s portfolio includes 14 singular brands, such as the Rémy Martin and Louis XIII cognacs, and Cointreau liqueur. Rémy Cointreau has a single ambition: becoming the world leader in exceptional spirits. To this end, it relies on the commitment and creativity of its more than 1,900 employees and on its distribution subsidiaries established in the Group’s strategic markets. Rémy Cointreau is listed on Euronext Paris.
1 After analysing the independence criteria set out in section 9.5 of the AFEP-MEDEF Code of Corporate Governance updated in January 2020, on the basis of the work undertaken by the Appointments and Remuneration Committee, the Board of Directors concluded that Alain Li could be considered independent.
