Duc, the France-based poultry processor, has announced the departure of CEO Joel Marchand.
The company said Marchand had resigned for “personal reasons”.
Damien Calandre, Duc’s industrial and purchasing director, has been appointed to replace Marchand.
Calandre work alongside Marchand in a transition period until 16 December, when he will formally take on the position of CEO.
Duc said Calandre has insisted the company’s strategy would remain unchanged.
In August, Duc reported a 7% fall in first-half sales after continuing to see domestic and international factors hit the business. Duc cited the bird flu outbreak in south-west France in 2015 as a factor in its decline in revenues. Duc said the outbreak had led to the closure of export markets including China and South Africa. It also pointed to a fall in poultry consumption domestically.
In 2015, Duc generated sales of EUR180.6m (US$202.8m), down 2.5% on 2014. The company’s profitability improved although it still made an operating loss amid pressure on selling prices. Duc posted an operating loss of EUR1.4m, versus EUR2.6m a year earlier. It booked a net profit of EUR570,000 against a net loss of EUR3.8m a year ago.