COVER STORY
“There were many other talents in the running
to be CEO,” says Ricard, recalling the sudden death of his uncle, and the company’s chairman, Patrick Ricard in 2012. That was the point when Alexandre was thrust unexpectedly into the limelight, though he was already managing director and had worked his way up the ranks to head Irish Distillers, the makers of Jameson in Dublin. “That August I was interviewed by the board
members and nominations committee, but while some might talk about succession as being my ‘duty’, no it wasn’t that,” he says. “It was a normal part of good governance and
the role of the board was to ensure the right CEO was chosen—one who is up to the job. My surname might be cool, but if I hadn’t demonstrated any merit, I wouldn’t have got anywhere.” Ricard often mentions “not expecting” to be
chief executive. In fact he even jokes that when the board asked him what his top three priorities would be, his reply was: “I can only think of two— grow our topline while performing well, and create a winning mindset.”
No golden rule Perhaps it’s no surprise Alexandre had no expectations. Although he grew up imbued in the business (he tells a tale of visiting distributors with his grandfather when he was a child—and remembering everyone’s name) Ricard admits he was never actively encouraged to join it, even when he initially tried in the 1990s. “I grew up having parents who told me I could
do anything I wanted, as long as I did it well,” he recalls. “Did they want me to join? I don’t know, I’ve never asked them, but in 1996, after graduating, I actually wrote a letter and sent my résumé to my uncle who transmitted it to [human resources] asking if I could join the company. However, the interview didn’t go well and I left the building and ended up walking into Andersen Consulting instead.”
While some might think it’s a brave HR
department member who grills the founder’s grandson, it proves the point that this is a business where sentimentality for the name won’t cut it on its own. “My uncle always told me my name isn’t an
advantage, but nor should it be an inconvenience,” says Ricard. “So I spent eight years outside the business, ending
up at Morgan Stanley, where I really learned about business. It was only after this that I resubmitted my CV—ironically to the very same [human resources director], as he was still there. The first thing I said when I got an interview was that my original, terrible, meeting was the best thing that could have happened to me.” Once in, it was ambition—rather than
lineage—that saw Ricard rise quickly up the ranks, gaining experience in Hong Kong as managing director of Pernod Ricard Asia Duty Free, before moving to Ireland in 2008 to head up the Jameson whiskey brand. “It was in 2011 that I got my big break,” he says. “That’s when Pierre Pringuet called me and asked
me if I wanted to join his executive board.” By this point Ricard was still only 39. “The fact that there have been other non-family
CEOs reiterates the fact that what matters most is that the person with the top job has the capabilities,” says Ricard, when asked whether it is inevitable that family members will take control. “It’s certainly not set in stone that it goes to a
family member, there’s no golden rule,” he repeats. To an extent this is understandable. The structure
of the business is such that the Ricard family already does very well regardless of who’s sitting at the top table. The family have a 14% shareholding—the largest single stake, and 20% of voting rights. This is also what Ricard calls a “reference shareholder”, ensuring the long-term value-creation and sustainability of the business. Pringuet wasn’t due to retire (statutorily) as chief executive until 2015, so it was agreed Ricard could
My s u r n ame mi g ht b e co o l , b u t i f I ha d n ’ t d emo n s t r at e d a ny me r i t, I w o u l d n ’ t hav e g o t an y w h e re
PHOTOGRAPHY: GETTY IMAGES
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