Pieter Bourgeois Leaves Alychlo, Joins Koramic Investments as CEO
Pieter Bourgeois, the long-time CEO of Alychlo — the family investment office of Belgian billionaire Marc Coucke — is leaving the company effective September 1, 2026, just three months after his sudden dismissal as CEO in April. Bourgeois will join Koramic Investments, the family office of Kortrijk-based entrepreneur Christian Dumolin, as co-CEO, with a planned full succession to the sole CEO role on January 1, 2028.
A Decade at Alychlo
Bourgeois joined Alychlo in 2015 as its very first Investment Manager, when the organization was still in its infancy. Over more than a decade, he helped build the company into a dynamic family office managing a portfolio of approximately 40 investments across Environment & Sustainability, Healthcare, Technology, Real Estate, and Leisure — with a pronounced focus on Belgium. He was promoted to CEO in 2022.
According to the official press release from Alychlo, Bourgeois played a pivotal role in several landmark transactions, including the IPOs of EKOPAK Sustainable Water and EnergyVision, the launch and development of Sanglier Durbuy Adventures (SDA), the growth of Pairi Daiza, the merger of SnowWorld, and the international expansion of OKU Hotels.
“The years at Alychlo are among the most formative and most grateful of my career,” Bourgeois said in the press release. “Marc gave me the trust from the very beginning to grow, to undertake, and to help build something exceptional.”
The Sudden Ouster and Restructuring
The departure comes after a turbulent period. In early 2026, Bourgeois’ role was restructured to focus exclusively on Alychlo’s publicly listed portfolio companies, with Els Degroote (formerly of EY and KBC Securities) taking over the non-listed portfolio. By mid-April 2026, news broke that Bourgeois was no longer CEO — a move described by multiple media outlets as a “sudden ouster” and a “surprise” to the Belgian business community.
As Made in West-Vlaanderen reported on April 13, 2026, Marc Coucke himself took a more hands-on role at Alychlo alongside Koen Hoffman (ex-KBC Securities), while Bourgeois was relegated to managing only the listed portfolio companies.
A New Chapter at Koramic Investments
Bourgeois’ next chapter begins at Koramic Investments, the family office of 81-year-old Christian Dumolin. The company evolved from Koramic Holding into a family office structure in 2024 and manages approximately €700 million in equity across nearly 50 companies, with investments in real estate (Belgium, Poland, Romania, and Germany), private equity, and a stock portfolio.
Starting September 1, 2026, Bourgeois will serve as co-CEO alongside Dumolin in a tandem structure designed to ensure a careful transition of responsibilities. On January 1, 2028, he will become sole CEO, with Dumolin transitioning to Executive Chairman.
“I am happy that Pieter is joining Koramic as co-CEO,” Dumolin said, as reported by Made in. “I have had the privilege of leading Koramic for 45 years. Pieter has the right profile to succeed me. He has years of experience built up at Alychlo.”
Mutual Respect Amid Transition
Despite the abrupt nature of Bourgeois’ departure as CEO, both parties have emphasized mutual respect. Marc Coucke described Bourgeois as “not just a colleague who is leaving — he is someone who helped shape the soul of Alychlo.” Bourgeois will continue to represent Alychlo on certain boards of directors even after his departure, ensuring their paths will continue to cross.
La Libre Belgique framed the story as “the end of a long idyll” between Bourgeois and Coucke, while the official statements emphasize gratitude and mutual admiration.
Implications for Belgian Business
The leadership transition carries significance beyond the two firms. Bourgeois, the 49-year-old son of Geert Bourgeois — a prominent Flemish nationalist politician (N-VA) and former Minister-President of Flanders — represents a rare cross-pollination between two of Belgium’s most prominent family offices. His move from Coucke’s Alychlo to Dumolin’s Koramic signals a carefully planned succession at Koramic, where the 81-year-old Dumolin is preparing for eventual retirement.
For Alychlo, the departure of its founding CEO and chief architect of its growth strategy leaves a significant leadership gap, with the company having undergone two major leadership changes in just three months. Questions remain about the longer-term strategy for Alychlo under Coucke’s direct leadership and how its portfolio companies will be affected by the loss of their key architect.
What’s Next
Bourgeois officially begins his role at Koramic Investments on September 1, 2026. The two-year co-CEO period with Dumolin will culminate in a full leadership handover on January 1, 2028. Meanwhile, the Belgian business community will be watching closely to see how Alychlo evolves under its new leadership structure and whether further changes are in store for one of Belgium’s most prominent investment firms.