Alexandre Rodriguez, the chairman of Rodriguez Group, stepped down today from all management positions he has held within the company as well as its holdings.
The resignation comes following an ongoing police investigation into alleged illegal activities by Rodriguez. (The investigation does not involve the company or its holdings, such as Camper & Nicholsons or Mangusta yachts.) In a letter to the supervisory board of Rodriguez Group, he wrote, “given the current circumstances, the protection of the Group’s interests and of its shareholders must remain an absolute priority.”
Gerard Rodriguez, the founder of the company, takes over as chairman. In a statement, he says, “ I have personally dedicated my entire life to the Group and my energy remains the same, despite the circumstances, to hold the Chairmanship while waiting for a long-term solution.”
Rodriguez Group, which trades stock under the symbol ROD FP, requested a temporary suspension of trading on June 8, given the publicity over Alexandre Rodriguez’s arrest. The company indicated that shares will resume trading on June 16.
UPDATE, OCTOBER 12: Rodriguez Group has appointed Eric de Saintdo as managing director. The following excerpts are from the press release issued yesterday:
With an M.B.A. in International Management from Texas University in Dallas, Eric de Saintdo is well known in the luxury boats industry. His passion for nautism led Mr. de Saintdo to take over the General Management of the Cannes International Boat & Yacht Show for more than ten years. His deep knowledge of Super Yachts combined with the excellent connections he has been able to establish over the years with the major actors of the industry resulted in giving to this “must attend” yachting annual event a truly international dimension.
In the past, Mr. Eric de Saintdo worked at various positions from private banking to food industry, showing a high track-record of management skills.
“Joining RODRIGUEZ GROUP, constitutes a natural outcome in my career devoted to luxury yachting for the past ten years. I am happy and proud to take over these responsibilities within RODRIGUEZ GROUP that I believe to be more than ready to prove to its partners and clients that is one of the world leaders in the yachting industry.” “I am eager to re-boost RODRIGUEZ GROUP’s huge potential,” underlined the new General Manager.