Death of Patrick Ricard
Patrick Ricard, chairman of Pernod Ricard, has died suddenly. He was part of the French and international drinks group since 1967, when he joined the Ricard Company, which was founded by his father Paul in 1932.
Patrick Ricard held successive positions in the company’s main departments, becoming managing director in 1972. With the creation of Pernod Ricard in 1975 he was appointed group managing director and then, in 1978, chairman and chief executive.
Patrick Ricard was the architect of the group’s ambitious strategy of growth through acquisition, aimed at broadening the product range and accelerating the development of the international business. The strategy proved a resounding success, sales outside France now accounting for 90% of turnover as against 17% when the group was formed.
Patrick Ricard’s acquisitions included Campbell Distillers inScotland, Austin Nichols in the US, Ramazzotti in Italy, Irish Distillers (bringing together all the producers of Irish whiskey) and Orlando Wyndham in Australia. It was also his decision to create Havana Club International in Cuba.
The pace picked up in 2000 with the acquisition of part of Seagram’s wine and spirit business, and again in 2005 with the buy-out of competitor Allied Domecq. In 2008, the group continued his external growth strategy with the acquisition of the Swedish Group Vin & Sprit. Despite such exceptional growth, the group’s guiding operational principle – decentralisation – has remained unchanged.
This exemplary record led American magazine Fortune to name Patrick Ricard ‘European Businessman of the Year’ in 2006.
On 5 November 2008, Patrick Ricard resigned his executive duties at the head of Pernod Ricard but remained as chairman. Born in 1945, Patrick Ricard was married with three children.
