Third generation of Ricard family promoted

The prospect of a family member succeeding Patrick Ricard (pictured) at the family-owned drinks company came a little closer today as a member of the third generation stepped up as part of a company-wide shake up.

Patrick's nephew Alexandre Ricard moves up to take the post of chairman & CEO Irish Distillers. Alexandre, 35, has been managing director of Pernod Ricard Asia Duty Free since September 2006. He joined the business in 2003 as an audit and business development manager after graduating from ESCP and Wharton.

The 62-year-old patriach, who is the son of founder Paul Ricard, has made it clear he is to step down later this year from the position he has held since 1978.

In November the office of chairman of the board of directors and that of the managing director will be separated. The new group management team will then comprise a chief executive officer, Pierre Pringuet, together with four deputy managing directors.

Cesar Bosom, another nephew, is also a possible candidate to carry on the family tradition. Bosom is currently running the Polish operations and was involved in the recent acquisition of Absolut, the Swedish vodka brand (click here to read more).