Patrick Ricard has stepped down from his post as CEO of drinks giant Pernod Ricard after 30 years of running the family business. He will continue his role as chairman and “continue to be involved in the group’s strategic decisions and in monitoring their implementation,” according to a company statement.
This move is a result of the company’s previously announced decision to separate the roles of CEO and chairman. Non-family managing director Pierre Pringuet will take over as CEO.
Ricard, 62, announced earlier last November that he was to step down from the company before the end of the year. However, other family members, including his recently promoted nephew Alexandre Ricard, were thought to be candidates for the job.
During his time at the helm, Ricard has grown the company his father founded in 1932 into the joint global leader in the wine and spirits industry. Most notably, he led the €5.6 billion acquisition of Absolut vodka owner Vin & Spirit in March this year.
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