Duc, the France-based poultry processor, has announced the departure of CEO Joel Marchand.
The company said Marchand had resigned for “personal reasons”.
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Damien Calandre, Duc’s industrial and purchasing director, has been appointed to replace Marchand.
Calandre work alongside Marchand in a transition period until 16 December, when he will formally take on the position of CEO.
Duc said Calandre has insisted the company’s strategy would remain unchanged.
In August, Duc reported a 7% fall in first-half sales after continuing to see domestic and international factors hit the business. Duc cited the bird flu outbreak in south-west France in 2015 as a factor in its decline in revenues. Duc said the outbreak had led to the closure of export markets including China and South Africa. It also pointed to a fall in poultry consumption domestically.
In 2015, Duc generated sales of EUR180.6m (US$202.8m), down 2.5% on 2014. The company’s profitability improved although it still made an operating loss amid pressure on selling prices. Duc posted an operating loss of EUR1.4m, versus EUR2.6m a year earlier. It booked a net profit of EUR570,000 against a net loss of EUR3.8m a year ago.
