Alexandre Ricard

"Convivialité is more than just a corporate value for Pernod Ricard, it's our raison d'être – and it's proudly embodied every day."

— Alexandre Ricard

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Overview

Alexandre Ricard
Born	1972 (age 53–54)
Citizenship	French
Education	ESCP Business School; MBA in finance and entrepreneurship, Wharton School; MA in International Studies, University of Pennsylvania
Alma mater	ESCP Business School; University of Pennsylvania
Occupation	Business executive
Employer	Pernod Ricard
Known for	Leadership of Pernod Ricard and continuation of the Ricard family legacy
Title	Chairman and Chief Executive Officer
Term	2015–present
Predecessor	Pierre Pringuet
Board member of	L’Oréal; Société BIC
Spouse	Gabrielle de La Fouchardière
Children	3
Website	https://www.pernod-ricard.com

🧑‍💼 Alexandre Ricard (born 1972) is a French business executive who has served as chairman and chief executive officer of Pernod Ricard, the world’s second-largest international wine and spirits group, since 2015. A grandson of founder Paul Ricard, he represents the third generation of the family to lead the company and previously held senior roles including chief financial officer and later chairman and chief executive of Irish Distillers, managing director of Pernod Ricard’s Asia Duty Free business, and managing director of its global distribution network. His tenure has been marked by a strategic focus on portfolio “premiumization”, targeted acquisitions in fast-growing categories, sustainability and responsible-drinking commitments, and the management of activist investor pressure and geopolitical controversies.

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Early life and education

👶 Origins and family background. Origins & Foundations (The "Making Of"): Alexandre Ricard was born in 1972 into the family behind Pernod Ricard, one of France’s major spirits dynasties. He is the grandson of Paul Ricard, who created the Ricard pastis brand in 1932 and later merged with Pernod to form the global group in 1975. Yet despite this lineage, his upbringing was not one of unbroken privilege inside the company fold. His father, Bernard Ricard (Paul’s eldest son), had a dramatic falling-out with Paul and resigned from the business in 1971, leading the family to relocate abroad, eventually to Andorra, just before Alexandre’s birth. As a result, Bernard became virtually persona non grata in the corporate history – he is absent from company archives and even skipped his son’s 2015 induction as chief executive, sending a letter requesting that Alexandre’s mother take the honorary seat in his stead. This early rift in the Ricard clan meant Alexandre initially grew up distanced from the empire’s epicentre. However, he reconnected in summers with his uncle Patrick Ricard (Paul’s younger son and longtime chief executive), visiting the family’s private island of Bendor in the French Riviera. During those summer reunions, his fascination with the spirits business was kindled: relatives recall that by age twelve he would put on a suit and tie to accompany his grandfather on distributor visits, effectively “self-designating” himself as a future successor. These formative experiences instilled both a deep reverence for the family legacy and a drive to prove himself worthy of it, even as he grew up under the shadow of his father’s exile from the firm.

🎓 Education and early international career. Alexandre Ricard’s education further shaped his cosmopolitan outlook. He attended the elite ESCP business school in Paris, graduating in 1995, and later became fluent in several languages. He went on to earn an MBA in finance and entrepreneurship from the Wharton School of the University of Pennsylvania alongside a master’s degree in international studies, a dual-degree programme that sharpened his global perspective. His studies in the United States exposed him to international business strategy and mentors outside the family sphere. Rather than entering the Ricard empire straight away, the young graduate worked in Milan at Banque Indosuez and then in London with Accenture’s consulting arm and as an investment banker at Morgan Stanley, building experience in corporate finance and consulting. This outside experience was a deliberate detour to build credibility before returning to the family business. The pivotal turning point came in the early 2000s when his uncle Patrick, then head of Pernod Ricard, gave Alexandre an ultimatum about joining – a “now or never” moment to enter the firm and help steer its future. In 2003, at age thirty-one, he accepted the offer and entered Pernod Ricard’s ranks, carrying both an illustrious name and the burden of high expectations.

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Career at Pernod Ricard

💼 Early roles in finance and travel retail. Alexandre Ricard’s rise through Pernod Ricard was swift but methodical, as he took on assignments that broadened his expertise at each step. His first role in 2003 was in the group’s audit and business development team, an entry-level position that allowed him to learn the company’s finances in detail. By late 2004, he had proven himself and was sent to Dublin as chief financial officer of Irish Distillers, the Pernod Ricard subsidiary known for Jameson whiskey. There, during a period of surging global demand for Irish whiskey, Ricard oversaw budgeting and strategy for Jameson, helping to lay the groundwork for the brand’s explosive growth in subsequent years. Colleagues noted his willingness to roll up his sleeves: he managed cost controls and international expansion plans, contributing to Jameson’s sales leap from roughly 2.6 million cases in 2008 to nearly 4 million cases by 2011. This success earned him a promotion in 2006 to managing director of Pernod Ricard’s Asia Duty Free division, a post based in Hong Kong that gave the young executive exposure to high-growth Asian markets. In that role, Ricard drove distribution of the company’s brands in travel-retail hubs across China, South Korea and Southeast Asia, riding a boom in airport duty-free sales. By mastering supply chains and marketing in such a dynamic environment, he helped Pernod Ricard capture rising demand from newly affluent Asian travellers and demonstrated his adaptability as a French heir thriving well beyond Marseille and Paris.

📈 Leadership at Irish Distillers and succession to group management. In July 2008, at age thirty-six, Ricard was elevated to chairman and chief executive of Irish Distillers, returning to Dublin to run the subsidiary where he had been chief financial officer. Over the next three years, Jameson whiskey’s international sales accelerated sharply under his watch, supported by marketing campaigns and deeper penetration into markets such as the United States. The period also coincided with Pernod Ricard’s acquisition of Vin & Sprit, the maker of Absolut vodka, in 2008, and Ricard was instrumental in integrating that portfolio into the group’s distribution and production networks. By proving he could manage both organic brand growth and post-merger integration, he solidified his reputation within the company. In 2011, he was brought back to headquarters as managing director of the group’s distribution network, effectively the architect of Pernod Ricard’s global supply chain and route-to-market strategy. In this role, he streamlined logistics across brands from Martell cognac to Chivas Regal scotch to improve efficiency after years of rapid expansion. In August 2012, his uncle Patrick Ricard, the long-time patriarch and chairman, died suddenly of a heart attack at age sixty-seven. Within days, the board moved to ensure continuity and named Alexandre, then forty, chief operating officer and deputy chief executive, effectively the heir apparent to the top job. Insiders noted that until that moment it had not been guaranteed that he would inherit the role, as other family members and seasoned executives were also potential candidates. Under the interim leadership of chief executive Pierre Pringuet, a non-family executive and Patrick Ricard’s trusted deputy, Alexandre spent the next two years deeply involved in day-to-day management, smoothing the leadership transition while learning from Pringuet’s experience.

🥃 Appointment as chief executive and portfolio strategy. On 11 February 2015, Alexandre Ricard officially became chairman and chief executive of Pernod Ricard at age forty-two, at that time the youngest chief executive among France’s CAC 40 companies. His elevation marked the completion of a third-generation handover: a Ricard was again at the helm of a multibillion-euro spirits group, forty-four years after his father’s abrupt ouster. Observers initially wondered how the soft-spoken heir would imprint his authority on a multinational boasting brands such as Absolut, Chivas Regal, Jameson, Martell, Beefeater and Perrier-Jouët. Ricard soon articulated a clear strategic course centred on “premiumization” of the portfolio, focusing on moving Pernod Ricard toward higher-end, higher-margin products rather than chasing sheer volume. In practice, this meant pruning lower-growth assets and doubling down on prestige labels: in 2019 the group sold several commercial wine brands, including its Argentine wine business, to refocus resources on core spirits. Although the era of mega-mergers had largely passed by the mid-2010s, Ricard pursued targeted bolt-on acquisitions to ride new trends, including majority stakes in ultra-premium tequila brand Código 1530 in 2022 and in Ace Beverage Group, a leading Canadian ready-to-drink cocktail producer, in 2023. These moves signalled his intention to capture the next generation of drinkers with higher-end offerings beyond the group’s traditional pastis and scotch brands.

🌱 Transform and Accelerate and innovation agenda. Under Ricard’s leadership, Pernod Ricard has embraced innovation and sustainability as core pillars of its strategy. Internally, he launched a three-year plan dubbed "Transform and Accelerate" around 2018–2019, aiming to boost operational efficiency and digital capabilities while maintaining a culture of quick decision-making. Externally, the company has leaned into trends such as low- and zero-alcohol drinks, including a 2023 partnership with Formula One driver Lewis Hamilton to develop a premium non-alcoholic spirit. Ricard frequently returns to the theme of "conviviality" – the idea of bringing people together – translated into modern forms such as digital communities and experiential marketing events.

📊 Financial results and long-term positioning. On the financial front, Ricard’s tenure has produced generally positive results, albeit with cyclical challenges. From 2015 to 2023, Pernod Ricard’s annual revenues rose from about €8.6 billion to nearly €11 billion, reflecting steady expansion in markets such as China, India and the United States. The company’s share price broadly trended upward over the same period, helping to consolidate its position as the world’s second-largest international spirits group behind Diageo. In fiscal 2025, by contrast, Pernod Ricard recorded a modest 3% organic sales decline to €10.96 billion amid a post-pandemic slowdown in demand in the United States and China and weaker travel retail. Ricard nevertheless forecast a rebound of 3–6% the following year and reorganised the United States division to reignite growth, creating dedicated teams for ready-to-drink beverages and "emerging" craft brands. He also approved around €100 million of cost savings by 2019 to improve profit margins in response to activist investor criticism, a theme that would later resurface in his dealings with Elliott Management. Crucially, he tied the group’s future to ambitious sustainability objectives: in 2019 Pernod Ricard launched the "Good Times from a Good Place" roadmap, committing to 100% renewable electricity by 2025 and net-zero carbon emissions by 2030, alongside regenerative-agriculture projects for key ingredients such as grapes and agave. He has framed these commitments as essential both to environmental responsibility and to protecting the terroir underpinning the company’s brands over the long term.

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Financials and wealth

💶 Executive remuneration and incentives. As chairman and chief executive of a major publicly traded group, Alexandre Ricard receives a compensation package that places him among France’s better-paid corporate leaders, although by American Fortune 500 standards his pay is modest. In the most recently reported year, his total annual remuneration was estimated at about €2.9 million for 2022, including base salary, bonuses and benefits. His fixed salary has been around €1.2 million, essentially unchanged since 2018, with the remainder coming from performance-based variable pay linked to profit and sales targets. The level of pay is broadly in line with other large European consumer-goods chief executives, but it has attracted scrutiny. In 2018, Pernod Ricard’s board proposed increasing his fixed salary by 16%, a move that governance advisory firm Proxinvest criticised as excessive given that French inflation stood at roughly 2% over the same period. Proxinvest and some minority shareholders argued that a family-connected chief executive should display more pay restraint, particularly as average employee wages at Pernod Ricard had risen by less than 1.5% annually since 2015. Despite these objections, the Ricard-led board, benefiting from the double voting rights attached to the family’s long-held shares, implemented the increase, bringing his fixed salary to around €1.1 million by 2019. Ricard’s incentives are heavily tied to share performance: his annual bonus can reach up to 180% of base salary in the event of outperformance, and he is eligible for long-term equity grants capped at 150% of base if multi-year targets are achieved. This structure is intended to align his financial interests with those of shareholders.

🏦 Family shareholding, personal fortune and outside roles. Ricard’s wealth extends beyond his salary to a substantial family ownership stake. As a member of the founding clan, he belongs to a shareholder group that collectively owns around 14% of Pernod Ricard’s share capital and more than 20% of its voting rights, largely through the holding company Société Paul Ricard and the French system of loyalty voting rights. This position is valued at several billion euros. Challenges magazine’s 2023 rich list, as summarised by French business media, estimated the Ricard family fortune at about €7.35 billion, placing it among the twenty largest fortunes in France. While this figure reflects the assets of dozens of heirs rather than Ricard alone, it illustrates the scale of the legacy he oversees. As chief executive, he is reported to hold Pernod Ricard shares worth tens of millions of euros – roughly €32 million in one recent assessment – reinforcing his alignment with the company’s long-term performance. Beyond Pernod Ricard, he has broadened his influence by joining the boards of other major groups: he became a director of L’Oréal in 2021 and of Société BIC, known for pens and razors, in 2025. These outside directorships indicate that his strategic and governance skills are recognised beyond the drinks sector and provide perspectives on adjacent consumer industries. In addition, he has chaired the Pernod Ricard Foundation (formerly the Ricard Foundation) since 2015, overseeing a philanthropic arm that supports contemporary art and manages significant cultural budgets.

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Personal life

🏠 Family life and privacy. Despite leading a prominent listed company and a well-known family, Alexandre Ricard maintains a relatively low profile in his personal life. He is married to Gabrielle de La Fouchardière, and the couple have three young children born in the late 2010s and early 2020s. His spouse keeps a low public profile and rarely appears in business media; their joint appearances are usually confined to cultural or charitable events rather than the celebrity social circuit. Ricard has spoken about the importance of reserving regular time for family meals despite a demanding travel schedule, crediting this routine with helping him remain grounded. The emphasis on close-knit family ties echoes the wider Ricard clan’s strong sense of unity, with an extended family of around fifty members still gathering periodically on the family-owned Mediterranean islands. His own childhood, split between expatriate life and summers in that enclave, is often cited as a source of his attachment to continuity and family cohesion.

🏃 Lifestyle, temperament and management culture. In private, Ricard is described as both affable and disciplined, with hobbies that balance convivial relaxation and physical challenge. Fitting for the head of an alcohol group built on the idea of convivialité, he enjoys hosting and socialising but prefers informal gatherings where conversation takes precedence over ostentatious display. He is known to cherish time on the Île de Bendor and Île des Embiez, two islands acquired and developed by his grandfather where the extended family gathers each summer. He also pursues outdoor activities, notably running; colleagues recount that he has gone jogging in demanding conditions such as the heat of Dubai simply for the challenge. The energetic, globe-trotting aspect of his personality appears in his appreciation for places as varied as India, one of Pernod Ricard’s key growth markets, and Monaco, with its Formula One atmosphere and yachting culture. At work he is seen as down-to-earth and approachable, favouring first-name interactions across hierarchies and supporting work-life balance initiatives that have earned the company recognition for employee well-being programmes. His management style is often summarised as "inclusive yet focused": he delegates operational detail to trusted regional managers while remaining closely informed and ready to delve into numbers when necessary, and he occasionally marks collective successes with toasts that reinforce the group’s convivial culture.

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Philanthropy and corporate responsibility

🎨 Support for contemporary art. Beyond family life and sport, art and philanthropy form another facet of Ricard’s public persona. The Pernod Ricard Foundation, originally created by the family in 1998, reflects founder Paul Ricard’s legacy as a patron of the arts. As foundation president, Alexandre Ricard has continued this tradition by overseeing an annual prize for emerging French artists under forty and regularly attending exhibition openings for the winners at Paris’s Centre Pompidou. He has described art as a form of conviviality parallel to sharing a drink, arguing that it brings people together and stimulates dialogue. Under his guidance, the foundation expanded and was rebranded in 2020 to carry the Pernod Ricard name, signalling the integration of cultural patronage into the group’s broader identity. He has also encouraged projects that connect artistic creation with the company’s sustainability agenda, for example by backing eco-conscious art initiatives and community programmes in regions where Pernod Ricard sources raw materials.

🚦 Responsible drinking and social engagement. In parallel with brand-building, Ricard has lent his voice to industry responsibility campaigns that promote moderation and safer consumption. Under his leadership, Pernod Ricard has increased investment in consumer education on alcohol-abuse prevention and has partnered with non-governmental organisations on anti-drink-driving and youth awareness initiatives. These programmes illustrate an effort to reconcile the sale of celebratory beverages with acknowledgement of the social issues surrounding alcohol, adding a public-interest dimension to his leadership profile.

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Controversies and challenges

⚖️ Family succession, nepotism concerns and internal cohesion. Leading a family-controlled corporation in the public eye, Ricard has faced periodic questions about nepotism and governance. When he emerged as heir apparent in the 2010s, some commentators wondered whether Pernod Ricard was relying too heavily on lineage rather than merit, particularly given that his uncle Patrick had dominated the company for more than three decades. The board’s decision not to appoint Alexandre chief executive immediately after Patrick’s death but instead to maintain Pierre Pringuet in the role until 2015, with Alexandre serving under him, helped demonstrate that he would be tested in senior operational posts before assuming ultimate responsibility. By the time he became chief executive, most insiders and many investors regarded him as having proved his capabilities. The succession nonetheless carried symbolic weight: his accession in 2015 came forty-four years after his father Bernard’s brief and troubled tenure at the top in 1971, a family episode often recalled in profiles of the group. Ricard has consistently stressed that "the group’s interests come first" rather than those of any single branch of the family, and he has invested in regular dialogue with cousins and siblings, including informal gatherings such as aperitifs to explain the company’s strategy to younger generations. These efforts are designed to avoid renewed intra-family conflict and to preserve a united front in the face of external pressures.

📉 Engagement with activist investor Elliott Management. A prominent external test of Ricard’s leadership came from activist shareholders. In late 2018 the hedge fund Elliott Management, led by Paul Singer, disclosed a stake of just over 2.5% in Pernod Ricard and argued that the group was underperforming relative to its potential, noting that its operating margin of about 26% lagged arch-rival Diageo’s roughly 31%. Elliott called for deeper cost reductions, an accelerated review of non-core assets and governance reforms, including additional independent directors. For Ricard, this was the first major public challenge to the family’s stewardship since control was consolidated in the 1970s. In early 2019 he presented a three-year plan that explicitly promised to lift profit margins and enhance shareholder returns, committing to annual operating-margin gains of 50–60 basis points, subject to steady sales growth, and identifying around €100 million in immediate cost savings. The company also created the role of lead independent director, appointing French business figure Patricia Barbizet in response to governance concerns. Throughout the episode Ricard maintained that Pernod Ricard’s premiumization strategy and long-term brand investment were already bearing fruit, pointing to stronger sales growth and emphasising his priority of creating "durable value" for all shareholders. Over time the group’s performance improved and Elliott exited its stake, suggesting that Ricard had both responded to and outlasted the activist campaign, while drawing lessons about shareholder communication and board structure.

🌍 Russia controversy and market exit. Ricard has also had to navigate geopolitical and ethical dilemmas. Following Russia’s invasion of Ukraine in 2022, Pernod Ricard initially halted exports to the Russian market, joining many Western companies in scaling back operations. In 2023 it emerged that the group had quietly resumed shipments of brands such as Jameson whiskey and Beefeater gin to its Russian distribution arm, arguing that this was necessary to protect local employees while options were assessed. Once the renewed exports became public, activists in Ireland – where Jameson is produced – organised protests under slogans such as "Boycott Jameson, Stand with Ukraine", and politicians labelled the move "morally unjustifiable"; similar criticism arose in Sweden over the potential return of Absolut vodka to Russian shelves. Facing mounting backlash on social media and in traditional media, Pernod Ricard announced by late April 2023 that it would cease all exports of its international brands to Russia, and later confirmed that it would wind down its operations in the country entirely. The episode brought reputational damage but also highlighted the fine balance between commercial considerations, staff protection and public expectations in politically sensitive markets.

🧩 Family control and governance debates. Corporate-governance commentators have periodically raised concerns about Pernod Ricard’s ownership structure and board decisions. Beyond the specific debate over Ricard’s pay rise in 2018, some observers point to the Ricard family’s roughly 20% voting stake – bolstered by double voting rights on long-held shares – as a source of disproportionate influence over shareholder resolutions. This influence has helped secure regular renewals of Alexandre Ricard’s combined chairman-chief executive role and his remuneration packages despite pockets of investor dissent. In a 2018 note, Proxinvest described it as "curious" for a family chief executive with a large equity stake to benchmark his salary to external peer groups, implying that an owner-manager might have been expected to show greater moderation in fixed pay. The firm also warned that the widespread use of remuneration consultants risks fuelling an inflationary spiral in executive pay, even in family-controlled companies. Although such critiques have not seriously endangered Ricard’s position, they underscore the need for him to balance family interests, shareholder expectations and broader social perceptions of fairness.

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Legacy and leadership style

🔄 Long-term stewardship and perceived legacy. Looking ahead, one of Ricard’s enduring challenges is safeguarding the Ricard legacy for future generations in both family and corporate terms. Externally, Pernod Ricard must continue to compete with global rivals while adapting to changing consumer tastes, including the rise of craft spirits and more health-conscious drinking habits. Internally, Ricard works to maintain unity among five branches of an extended family that together hold only a minority stake but significant voting power; a serious split could leave the group vulnerable to takeover attempts by larger competitors or aggressive investors often described as "predators". He devotes time to keeping family shareholders aligned, inviting younger relatives to intern at distilleries or take seasonal roles on the family’s islands in order to foster a sense of pride and involvement in the company. His oft-repeated message is that no individual, including himself, is bigger than the group, and that the succession crises of the past must not be repeated. In the wider business community he is generally regarded as a steady leader who combines the symbolic weight of being Paul Ricard’s grandson with the pragmatic outlook of an MBA-trained global manager. Reflecting on his role in interviews, Ricard has described himself not simply as an heir but as a "transmitter" whose duty is to pass the company to the next generation in better condition than he found it, a long-term mindset that echoes his grandfather’s ethos while being updated for the twenty-first century.

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