Bacardi Limited Names New Chief Executive Officer
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05/08/08 Facundo L. Bacardi, Chairman of Bacardi Limited — the world’s largest privately held spirits company — announced Seamus McBride will become the Company’s new President and Chief Executive Officer effective September 1, 2008. Mr. McBride was elected by unanimous vote of the board of directors as part of a planned succession process.
Mr. McBride will join Bacardi Limited from the Colgate-Palmolive Company, where he served as executive vice president and president, North America and worldwide commercial effectiveness. Mr. McBride will be based at Bacardi Limited’s headquarters in Bermuda.
“Seamus is an outstanding business leader with broad global expertise in consumer products including marketing, commercial operations, and systems. We look forward to benefiting from his vast experience in leading our global spirits business to new successes in a challenging competitive environment,” said Mr. Bacardi. “He is ideally suited to build upon our record results and our premium strategy led by current president and chief executive officer, Andreas Gembler, and the Bacardi Limited executive team.”
Mr. McBride added, “Bacardi Limited is an exceptional company with a focused portfolio of premium and super premium brands. I look forward to working with the team at such a respected company with its rich heritage and forward-looking strategy.”
Mr. McBride led Colgate’s business operations in the U.S., Canada, Puerto Rico and the Caribbean, and directed Colgate’s global commercial effectiveness program. He has more than 25 years of marketing and management experience at Colgate in positions of increasing responsibility in North America, Europe and Asia. In addition, he spent four years as marketing director for beer producer, Bass Plc.
Mr. McBride, 53, will succeed Andreas Gembler, 65, who has held the position of president and chief executive officer of Bacardi Limited since 2005. Mr. Gembler will continue in his current role until Mr. McBride’s succession, after which he will retire. Mr. Gembler will provide advice and counsel to ensure a smooth transition.
“We want to thank Andreas for his extraordinary leadership and many contributions to Bacardi Limited. During each year of his tenure, our Company produced record sales, earnings from operations and net income. Andreas set the Company on a transformative path that will serve us well into the future,” added Mr. Bacardi.
