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Remy faces trade disputes in U.S. and China

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Chairperson de Leusse to oversee CEO transition

(Adds analyst quote in paragraphs 10-11)

By Emma Rumney

LONDON, April 9 (Reuters) - Remy Cointreau CEO Eric

Vallat has resigned to pursue another professional project after

more than five years leading the French cognac maker, the

company said on Wednesday.

Vallat's resignation comes as Remy finds itself at the sharp

end of trade disputes affecting sales in its two biggest

markets, the United States and China.

The board accepted Vallat's resignation, effective this

summer, the statement said, adding that chairperson Marie-Amelie

de Leusse will oversee the transition until a successor is

chosen. It did not say what Vallat planned to do after leaving

Remy.

"I would like to express our sincere gratitude to Eric for

his commitment, leadership and strategic vision," de Leusse

said, wishing him success in the future.

Remy's U.S. sales were spiralling downwards even before U.S.

President Donald Trump announced sweeping tariffs that would add

a 20% levy to French exports such as cognac. And China imposed

tariffs on European Union brandy earlier this year.

Remy makes 70% of its sales from cognac, the vast majority

of which is sold in those two nations. This has left it more

exposed to the tariffs than some competitors with a broader

geographic reach or product portfolio.

The company's shares have registered by far the steepest

decline as spirits sales have slipped across the industry after

a post-pandemic boom. Its stock is down more than 26% this year.

Vallat said he had strengthened the group's foundations and

was convinced his successor would be able to rely on strong

brands to prepare for a recovery.

"My commitment will remain total until my official departure

date," he added.

Trevor Stirling, analyst at Bernstein, said he had viewed

Vallat as a "very competent CEO" throughout a roller-coaster

tenure starting with the COVID-19 pandemic.

"Inevitably, there will be a period of internal anxiety

until the future CEO is announced and bedded in," he added.

The terms and conditions of Vallat's departure compensation

will be submitted to shareholders at the next general meeting,

Remy said.