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NEW DELHI, Oct 14 (Reuters) – Pernod Ricard (PERP.PA) India head Thibault Cuny has stepped down for health reasons, the French spirits company said on Friday, marking a major exit from the company as it battles regulatory and legal battles in the country.
Cooney, who has been dealing with health problems for several years, will take a break from his career on medical advice but will remain with Pernod, the company said in a statement to Reuters.
Cooney was appointed Managing Director and CEO of Pernod Ricard South Asia in 2019 after serving as President and CEO of Pernod Ricard Brazil. He has been with the group for nearly two decades in various leadership roles.
His exit comes at a critical time for Pernod’s Indian business, which has produced iconic brands such as Chivas Regal and Absolut Vodka. The company, embroiled in various tax and legal battles, is the second largest spirits player in India, competing with the likes of Diageo. (DGE.L).
Reuters reported last week Following an investigation, Indian tax authorities have demanded $244 million from Pernod India to pay in full for certain alcoholic beverages for more than a decade. Pernod argued the question in court.
Indian officials, including Prime Minister Narendra Modi’s office, have been scrambling to solve the ghost maker’s problem. Longstanding tax disputes It has to do with the review of imports, saying they have “blocked fresh investments” in the country.
In a statement, Pernod said it had begun the process to identify a new leader for “the next phase of growth and change” in India.
In the interim, Pernod Ricard Asia Chairman and CEO Philippe Guette will assume responsibility for Pernod Ricard South Asia, including India, the company said.
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Editing by Sri Navaratnam, reporting by Aditya Kalara in New Delhi
Our standards: The Thomson Reuters Trust Principles.
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