Laurent-Perrier chief quits

The boss of recession-battered Champagne house Laurent-Perrier has quit after just 18 months in the job, the company has confirmed.

Stéphane Tsassis replaced Yves Dumont as chairman of the Tours-sur-Marne-based company at the beginning of last year, during a troubled time for France’s fourth biggest Champagne producer.

A combination of price rises and economic conditions has seen Laurent-Perrier’s turnover slump by nearly one-third over the last two years, reaching €171.8m in the 12 months to the end of March after a recovery in the fourth quarter.

Laurent-Perrier said Tsassis had left for ‘personal reasons’, and would be replaced temporarily by former Moët Hennessy executive Michel Boulaire while the company looks for a replacement.

The highly experienced Boulaire, 62, has carried out consultancy assignments for Laurent-Perrier over the last four years, and has also worked for Heidsieck Monopole, Marie Brizard, Alliance Loire and Kronenbourg during a 40-year career.

The company also announced that CFO Etienne Auriau and cellar master Michel Fauconnet had joined the company’s management board.

Laurent-Perrier, owner of the eponymous Champagne brand as well as Delamotte, De Castellane and Salon, recorded a net profit of €10.6m in the year to the end of March, 44% down on last year.

Written by Richard Woodard

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Richard Woodard is a freelance wine and spirits writer based in the UK. Aside from Decanter, he writes for several wine trade and media outlets including Imbibe, The Drinks Business, Harpers and Drinks International.

Since 2015 he has been the magazine editor of Scotchwhisky.com. He has formerly worked as a wine news reporter at Imbibe and a feature writer for Halycon Magazine.