Following the sudden death of Pernod Ricard chairman?Patrick Ricard over the weekend, Reuters is reporting that Ricard?s nephew, Alexandre Ricard, is being groomed to become the company?s chief executive following the planned retirement of current CEO Pierre Pringuet in 2015. French newspaper Les Echos adds that Alexandre Ricard could soon move from his current post?managing director, Pernod Ricard distribution network?to become deputy CEO, with Pringuet adding the chairman role to his current title. Another possible route would see Patrick Ricard?s sister Danielle become chairman.
Alexandre Ricard, 40, was appointed to oversee Pernod?s route to market across its global business in July of last year. Prior to that, he was chairman and CEO of Pernod?s Irish Distillers division.
The Ricard family is Pernod Ricard?s largest shareholder with a 14% stake. The family has preferred to keep day-to-day control of the group under its own wing, with Pringuet being the first non-family member to serve as chief executive. Pernod Ricard is due to release its full-year results on August 30, with a board meeting scheduled for the day before.
Pernod?s top global rival Diageo recently moved toward a similar succession plan, appointing former North America and Asia chief Ivan Menezes as global COO in February. Menezes is widely viewed as the top internal candidate to succeed current Diageo CEO Paul Walsh, who has led the British drinks giant for more than a decade.
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