Champagne house Laurent-Perrier's chairman quits
The chairman of troubled Champagne house Laurent-Perrier Stephane Tsassis has resigned, citing "personal reasons" as the motivation behind his departure.
Although he had worked for Laurent-Perrier for just 18 months, it was a turbulent period for the Champagne producer which saw turnover decrease by nearly one-third, according to decanter.com.
Although net profits for the year ending in March stood at €10.6 million (£8.8 million), this represents a slump of 44 per cent compared with the previous year.
Mr Tsassis' position will be filled on a temporary basis by Michel Boulaire, a former executive for Moet Henessy, until a permanent replacement can be found.
Meanwhile, chief financial officer Etienne Auriau and cellar master Michel Fauconnet will join Laurent-Perrier's board of managers.
However, there was better news for the Champagne producer at this year's Chelsea Flower Show recently, where its show garden designed by Tom Stuart Smith was awarded a gold medal.