People: Doux appoints former Lactalis boss as CEO

22-06-2012 | | |

Michel LĂ©onard, former Lactalis boss, has been appointed CEO of Groupe Doux, the French poultry processor that went into receivership earlier this month.

Léonard, who was Lactalis president for nine years until 2009, takes the helm of a company that filed for receivership with debts estimated at €430m (US$546m).

Volatile commodity costs and a troubled venture in Brazil are the two main reasons behind the situation Doux finds itself in.

Doux is 80% owned by the Doux family through a holding company. French bank BNP Paribas owns the remaining shares.

Léonard, whose career included stints at Danone and Bongrain, faces the challenging task of revitalising a company that indirectly supports an estimated 20,000 jobs across France.

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