Thibault Cuny, MD & CEO, Pernod Ricard South Asia quits over health issues

Philippe Guettat to take over for interim period

Thibault Cuny, MD & CEO, Pernod Ricard South Asia (including India) has stepped down owing to health reasons on Friday but will continue to be employed at Pernod Ricard. For the interim period, Philippe Guettat, chairman and chief executive of Pernod Ricard Asia, will hold charge of Pernod Ricard South Asia, including India operations, according to the company’s release.

The company has begun the process to identify a leader to lead its India operations. A formal announcement regarding the appointment will be made in due course, it said.

Cuny’s stepping down comes at a time when the company was already facing legal challenges in India. According to news reports, the French spirits giant’s local unit was asked to cough up $244 million for the undervaluing concentrate imports to avoid full payment of duties to the government for over a decade.

According to the release, Cuny has been dealing with health concerns over the past couple of years and his decision to take a break from his professional duties is based on medical advice.

“Thibault has been steering the company through one of its most significant transformation journeys over the last four years. Despite turbulent times during the pandemic, and challenges owing to his health condition, Pernod Ricard India has witnessed robust growth and steady progress in many critical areas,” Philippe Guettat, chairman and CEO, Pernod Ricard Asia said.

Cuny took over as the MD & CEO, Pernod Ricard South Asia in 2019 after serving Pernod Ricard Brazil in the capacity of president and CEO. He has been with the group in various leadership roles for almost two decades. During his tenure, he actively drove the group’s transformation agenda with a focus on premiumisation, inclusion & diversity, sustainability & responsibility and ethics & compliance, the company said.

Pernod Ricard, the world’s second largest wine and spirits company, makes Royal Stag, Royal Stag Barrel Select, Blenders Pride, Blenders Pride Reserve Collection, Imperial Blue, 100 Pipers and a wide range of international premium brands such as Chivas Regal, Ballantine’s.  The India unit, a fully owned subsidiary of Pernod Ricard South Asia and operates through two distilleries in Maharashtra and Rajasthan.