PARIS — Dufry Group, the world’s largest travel–retail operator, has named a new chief executive officer.
Xavier Rossinyol will succeed Julián Diaz in the position on June 1. Diaz, who is stepping down from the CEO role, will not stand for board reelection at the company.
There will be a transition period, starting March 1, when Rossinyol is to become designated CEO and member of Dufry’s global executive committee.
Rossinyol was part of Dufry’s management team between 2004 and 2015. He served as chief financial officer until 2012, when he became chief operating officer EMEA and Asia. Since 2015, he has been CEO of Gategroup, the airline catering and onboard retail company.
Diaz became Dufry’s CEO in 2004 and was elected a group board member in 2013.
“During his tenure, Julián led a team that successfully executed the strategy of profitable global expansion and sustainable growth that enabled Dufry to become the world’s global leading travel retailer it is today,” Dufry said in a statement released Monday. “In recent years, he has driven the digitalization strategy and a strong ESG engagement.”
Juan Carlos Torres, Dufry’s chairman, called Diaz “the driving force of the group’s development.”
He said Rossinyol’s “unparalleled industry experience, leadership skills and strategic vision will enable Dufry to recover further from the COVID-19 crisis and accelerate short- and long-term value creation.”
In the third quarter of its fiscal year, ended Dec. 31, 2021, Dufry reported sales of 1.35 billion Swiss francs, or $1.47 billion, which represented 55.6 percent of the levels in 2019, pre-pandemic. The company’s sales in the first nine months of the current fiscal year came in at 2.54 billion francs.
Dufry’s results are considered a bellwether in the travel-retail industry, which was hard-hit by the health crisis, as travel in most parts of the world ground to a complete halt. How quickly the channel fully resumes operations, as people begin taking trips again, will have a major impact on the business of luxury fragrance and beauty brands, which comprise travel retail’s number-one product category.
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