To obtain the subject compound useful as perfume, etc., using a reprocessable catalyst having long catalytic life by using a specific fixed bed catalyst tree from supporting material, thereby increasing the treating amount per unit amount of the catalyst.

The catalytic rearrangement of an optically active α-menthol is carried out by a fixed bed process using an available molded article acting as a catalyst free from supporting material and produced by reducing a press- formed powder of (A) an oxide or hydroxide of nickel, manganese and an alkaline earth metal (e.g. strontium) and optionally (B) an oxide or hydroxide of a group V transition element (e.g. vanadium) and/or a group VI element (e.g. chromium) of the periodic table. The reaction is carried out in the presence of hydrogen under a hydrogen pressure of 50-350 bar at 200-350°C. The formed catalyst contains e.g. 30-60 wt.% of nickel, 10-20 wt.% of manganese, 0.2-5 wt.% of an alkaline earth metal, $5 wt.% of the component B and the remaining part of oxygen based on 100 wt.% of the total mixture.