French media reports suggest that he suffered a fatal heart attack while holidaying on the family-owned island of Bendor, off the French Riviera, and died later in hospital.
According to the Paris-based company - Chivas Regal, Absolut Vodka, Ricard Pastis, Pernod Anise - he was the architect of its successful acquisition strategy from the late 1980s.
This aimed at broadening Pernod Ricard's product range and accelerating its international business, propelling the firm into the world's second largest world wine and spirits player (behind Diageo) with the takeover of UK-based Allied Domecq in 2005.
US magazine Fortune named Patrick Ricard ‘European Businessman of the Year’ in 2006, and in 2008 he resigned his executive duties but remained chairman of the board of directors.
Succession gossip begins...
Patrick's 40-year-old nephew Alexandre Ricard (pictured left, current MD of Pernod Ricard's distribution network) has previously been tipped for the CEO position, which could happen in 2015 when current chief Pierre Pringuet retires.
Sanford Bernstein analyst Jean-Marc Chow told Reuters on Monday that Alexandre Ricard was Pringuet's heir apparent.
Born in 1945, Patrick Ricard (pictured right) joined the Ricard company in 1967, became MD in 1972, and was appointed group MD of Pernod Ricard on its creation in 1975, then chairman and CEO in 1978.
