Pernod Ricard Announces Organisational Changes
The creation of a new brand company called Premium Wine Brands, responsibilities of The Absolut Company are extended to include all the Group’s international vodka brands, and creation of a new region covering.
Jul 26 2010 --- As part of the Agility corporate project, whose principal conclusions were released on the Capital Market Day on 20 May 2010, Pernod Ricard announces the following organisational changes:
* the creation of a new Brand Company called Premium Wine Brands
* the responsibilities of The Absolut Company are extended to include all the Group’s international vodka brands
* the creation of a new region covering Sub-Saharan Africa, called Pernod Ricard Sub-Saharan Africa, reporting into Pernod Ricard Europe
- Premium Wine Brands is in charge of the development and global strategy of the Group’s strategic wine brands. The portfolio includes: Australian wines (Jacob’s Creek), New Zealand wines (Montana and Brancott), as well as Spanish and Argentinean wine brands with international potential (Campo Viejo and Graffigna). The new company’s objective is to accelerate the international development of these brands within the Pernod Ricard distribution network.
Jean-Christophe Coutures, who is currently Chairman and CEO of Pernod Ricard Pacific, becomes Chairman and CEO of Premium Wine Brands. He will report to Thierry Billot, Managing Director, Brands.
- The Absolut Company now brings together all the vodka brands of the Group with an international outlook, such as the ABSOLUT, Friis and Wyborowa brands. Its objective is to establish the Group’s strategy for the entire Vodka segment. In addition, The Absolut Company retains the responsibility for the Malibu and Kahlúa brands.
Stéphane Longuet, currently Vice President Finance of The Absolut Company, is appointed Chief Operating Officer of the Standard Vodka division of The Absolut Company and therefore will report to Philippe Guettat, Chairman and CEO of The Absolut Company.
As a result, Rolf Cassergren is appointed Vice President Finance at The Absolut Company, in charge of Finance, Accounting, Reporting, IT, Customer Service and General Services.
- Pernod Ricard Sub-Saharan Africa will be a direct subsidiary of Pernod Ricard Europe with the with the objective of accelerating the Group’s development in this region with great potential.
Henry Carew, currently Managing Director of Pernod Ricard Southern Central Europe is appointed as Managing Director, Pernod Ricard Sub-Saharan Africa, with effect from 1st October and will report to Laurent Lacassagne, Chairman and CEO of Pernod Ricard Europe. His replacement will be announced at a later date.
- Lastly, Pernod Ricard announces the following changes within the Group’s General Management:
Following a career which spanned twenty years within Pernod Ricard, Michel Bord has decided to relinquish the post of Managing Director, Distribution Network with effect from 30 July 2010.
Michel Bord was instrumental in the Group’s internationalisation, particularly on the American continent. Michel Bord’s responsibilities will now be assumed by Pierre Pringuet, Chief Executive Officer.
Bruno Rain, currently Managing Director, Human Resources is now responsible for the Group’s Corporate Responsibility Policy: Responsible Consumption, Environmental Responsibility and Corporate Ethics.
Meanwhile Pernod Ricard has announced the disposal, by its subsidiary Domecq Bodegas, of Spanish wine brands Marqués de Arienzo and Viña Egu?a, the related Bodega and 358 hectares of vineyards and lands to a consortium of buyers made up of Vinos de los Herederos del Marqués de Riscal SA and Gangutia S.L. (Bodegas Muriel) for a cash consideration of €28 million on a debt free / cash free basis.
The transaction was signed and the cash consideration was paid simultaneously on July 21st, 2010.
Pernod Ricard was advised in this transaction by BBVA Corporate Finance and Cuatrecasas-Gonçalves-Pereira.
