Rémy Martin CEO Jean-Philippe Hecquet steps down after four years

Jean-Philippe Hecquet has announced his departure from Rémy Martin after four years in the role. He will be succeeded by Amaury Vinclet, as the Cognac house’s parent company faces tough market conditions in China and the US. 

Hecquet announces departure

Jean-Philippe Hecquet, CEO of Rémy Martin and its Louis XIII category, has stepped down after four years leading the Cognac house. His successor, Rémy Martin’s executive director Amaury Vinclet, has been confirmed by The Spirits Business.

In a statement shared on LinkedIn, Hecquet reflected on his tenure, describing his time at Rémy Martin as “four intense and inspiring years” and expressing gratitude to his teams, the wider Rémy Cointreau Group, and vineyard partners for their “passion and unwavering dedication.”

He added that it had been “an honour to contribute to the development of this iconic House, whose unique savoir-faire and shared commitment to excellence have defined every step of its journey.”

Hecquet will take up a new role as President of Vivacy, a French laboratory recognised for its innovations in natural beauty and regenerative aesthetics. “This universe stands today as one of the most dynamic sectors,” he said, adding that Vivacy, backed by Bridgepoint Private Equity, aims “to become the global leader in regenerative aesthetics.”

Change at the top amid challenging market conditions

Hecquet’s departure comes as Rémy Cointreau, the group behind Rémy Martin and Cointreau liqueur, cut its full-year sales and profit outlook, citing weaker demand in key markets.

Reuters originally reported that Rémy Cointreau shares fell as much as 11% in early trading after the announcement, later stabilising 6% lower by mid-morning on 30 October.

The group said sales of Rémy Martin Cognac and Cointreau liqueur dropped 11% in the second quarter, a sharper decline than analysts expected, due to softer trading in China and a delayed Mid-Autumn Festival.

Finance chief Luca Marotta told analysts that Cognac sales in China fell around 25% in the quarter, describing it as the “main driver” of the profit warning. He cited government austerity measures and a “soft” festival season as contributing factors.

Analysts at JP Morgan said the scale of the downgrade “implies the company is suffering from the continued deterioration in global Cognac demand as well as a likely margin reset.”

Weaker outlook for Cognac sales

Reuters originally reported that the group’s sales reached €268.8 million in the July-to-September quarter, marking an 11% like-for-like decline — worse than the 9% drop expected by analysts. The Cognac division’s sales fell 13.5%, mostly due to the sharp slowdown in China.

While the Americas region posted a second consecutive quarter of growth, Rémy Cointreau now expects organic sales growth for 2025/26 to range between stable and low single digits, compared with its previous forecast of mid-single-digit growth. It also anticipates an annual operating profit decline in the low double digits to mid-teens.

The wider spirits sector has faced headwinds in both the US and China, as the post-pandemic sales boom reverses and tariffs weigh on Cognac exports.

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