The CFO of cigar maker Altadis is set to replace his Danone counterpart Antoine Giscard d'Estaing, who has decided to resign from the company.

Pierre-André Terisse, 41, spent eleven years at Danone after joining the French dairy giant in 1992. In 2003, he joined Altadis as treasury director.

Danone said Giscard d'Estaing is leaving to pursue other "professional opportunities".

Earlier today (14 February), the company said it had seen profits more than triple last year thanks to growth from its dairy business and a one-off gain from the sale of a biscuits business.