By Andrea Figueras

Remy Cointreau said Chief Executive Eric Vallat would resign after more than five years at the helm of the French luxury liquor group at a time when Europe's spirits sector reckons with President Trump's tariffs.

The company said Wednesday that Vallat would leave in the summer to dedicate himself to a new professional project.

The maker of Louis XIII cognac said a selection process to replace the CEO was already underway. Marie-Amelie de Leusse, chairwoman of the board of directors, will oversee the transition period.

The announcement comes at a challenging time for European drinks makers amid waning demand after a boom in beverage consumption during the pandemic as well as uncertainty in key markets.

In China, a major market for the industry, authorities implemented provisional tariffs on brandy imports from the EU following Brussels's decision to impose duties on Chinese electric vehicles.

In the U.S., the sector faces President Trump's levies on imported goods from Europe. On Wednesday, EU members approved an initial list of U.S. goods that will be subject to countertariffs, giving the bloc power to impose levies on some products as early as next week. American whiskey has been taken off the list in a move aimed at protecting the bloc's drinks manufacturers.

The decision was welcomed by the U.S.'s Distilled Spirits Council, which noted that the U.S.-EU spirits sectors could go back to zero-for-zero tariffs and untangling distilled spirits products from wider trade disputes.

Remy Cointreau previously said it expected a sales decline at the lower end of its previously guided range between 15% and 18% for the year to the end of March 2025.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

April 09, 2025 13:00 ET (17:00 GMT)

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