Ed Shirley is leaving his post as CEO of Bacardi after two years,
the
Financial Times
reported.
The company will name an interim CEO but has not announced a name, the article said.
Until a permanent CEO is named, the executive leadership team will report to chairman Facundo Bacardi, the article said.
“Bacardi said Mr. Shirley was retiring but declined to comment on the abrupt timing of his departure without an identified successor,” the
FT
report said.
Global sales volume for Bacardi’s brands fell about 3% last year, the
FT
article noted. Analyst Jeremy Cunnington of Euromonitor International told the
FT
that Bacardi has historically been “overly focused” on white spirits like rum, vodka and gin, while the industry is experiencing a surge in demand for brown spirits like bourbon and Scotch.
Bacardi has been mentioned among potential buyers for Brown-Forman, the
FT
report said. (Source:
Financial Times,
April 8, 2014.)
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