Moet Hennessy replaces CEO of Russian subsidiary

MOSCOW. Jan 26 (Interfax) - Moet Hennessy, a division of LVMH, has appointed Alina Klushina to replace Sebastien Vilmot as chief executive of its Russian subsidiary, Moet Hennessy Distribution Rus LLC, the Unified State Register of Legal Entities showed.

Vilmot had headed the company since May 2018. Moet Hennessy announced in the spring of 2022 that it would suspend shipments of alcohol products to Russia.

LVMH had a 36% share of Russian champagne imports, with Moet Chandon, Veuve Clicquot, Ruinart and Dom Perignon, and a 26% share of cognac imports, with Hennessy. The Hennessy and Moet brands are on the list of goods that can be brought into Russia through parallel imports.

Moet Hennessy Distribution Rus saw its net profit grow to 722.6 million rubles in 2021 from 560 million rubles in 2020, on revenue up to 6.1 billion rubles from 5.5 billion rubles, respectively, the SPARK-Interfax system showed. The company paid 640 million rubles in dividends in 2021.

Other foreign food and beverage companies have also replaced the leadership of their Russian subsidiaries in the past year, including Swiss food giant Nestle and dairy product producer Ehrmann.