FRANCE: Poultry group Doux suspends CEO Odri
Doux has suspended Odri after nine years as CEO
Embattled French poultry group Doux has confirmed that its CEO Guy Odri, who has been at the helm since 2003, has been suspended from his post.
Another senior executive, general secretary Herrick Pinguet, has also been suspended from his job.
Contacted by just-food today, a spokesperson for the French group declined to comment on the reasons for the move to suspend the two men. The decision was presented at a works committee meeting on Wednesday chaired by Doux's president, Charles Doux.
His son, Jean-Charles Doux, has been appointed to take over from Odri. He is already a group vice president and a member of Doux's board. The company has also announced the appointment of Eric Bourdery as human resources director.
Last month, Doux leased out its plants in Brazil to rival meat processor JBS. In April, Doux told just-food that it was continuing talks with potential investors and today confirmed discussions were still taking place in order to "strengthen equity and restructure its debt in order to provide the means for future growth".
In 2010, it withdrew a notes offer to raise EUR400m due to "difficult" market conditions and has not renewed the move since. Its debts are estimated at EUR430m.
The Doux family own 80% of the group's capital with the remaining 20% held by French bank BNP Paribas.
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