CONSTELLATION
BRANDS ANNOUNCES SENIOR MANAGEMENT CHANGES
TO
ITS INTERNATIONAL BUSINESS
VICTOR, N.Y., June 5, 2009 –
Constellation Brands, Inc. (NYSE: STZ, ASX: CBR), the world’s leading producer
of premium wines, announced today that Jon Moramarco, chief executive officer of
Constellation International, will leave the company effective June 30, 2009.
“Jon has been a highly valued member of the management team since 1999 and his
strategic insight, knowledge and vast wine industry experience have helped us
build a portfolio of brands that is unrivalled in the industry,” said Rob Sands,
president and chief executive officer (CEO). “Jon’s significant contributions
are very much appreciated and we thank him for his many years of
service.”
With this
change, the company also announced that Paul Hetterich will oversee the
international business of Constellation Europe, Constellation Wines Australia
and Constellation New Zealand as executive vice president, business development,
corporate strategy and international. Reporting to Hetterich, will be Troy
Christensen, who will assume responsibility for Constellation Wines Australia in
addition to his current duties as president of Constellation Europe; and Joe
Stanton, CEO of Constellation New Zealand. John Grant, president of
Constellation Wines Australia, will report to Christensen. The reporting changes
are effective immediately.
“As we
continue to evaluate the organization and look to position the company for
long-term success, refining and simplifying our international organization
provides opportunities for increased synergies within the U.K. and Australian
markets,” said Sands. “We anticipate significant benefits from a leaner and more
flexible international organization as we continue toward our goal of improving
efficiencies, profit, cash flow and return on invested capital as well as paying
down debt.”
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In
addition to assuming the helm of the international business, Hetterich will
continue to lead the company’s mergers, acquisitions and divestiture initiatives
and strategic planning. He joined the Canandaigua Wine Company in 1986 and has
held a number of positions in brand management, business development and
corporate strategy. In 2003, he was named a company executive officer when he
was promoted to executive vice president business development and corporate
strategy.
Christensen
joined Constellation Brands in 1997 holding a number of domestic and
international roles including being named chief financial officer of
Constellation Europe in 2006 and president of Constellation Europe in 2007.
Stanton has served as CEO of Constellation New Zealand since 2004. Grant was
appointed president of Constellation Wines Australia in 2007.
About
Constellation Brands
Constellation
Brands, Inc. is the leading producer of premium wines in the world, with a
portfolio that includes many well-known and highly regarded wine brands,
complemented by spirits, imported beers and other select beverage alcohol
products. The company has significant market presence in the U.S., Canada, U.K.,
Australia and New Zealand. Based in Victor, N.Y., the company has
more than 100 strong consumer brands in its portfolio, sales in about 150
countries and operates approximately 50 wineries and other
facilities. It is the largest premium wine company in the U.S.; the
largest wine company in the U.K., Australia and Canada; the second largest wine
company in New Zealand; and the largest beer importer and marketer in the U.S.
through its Crown Imports joint venture with Mexico’s Grupo
Modelo. Constellation Brands is an S&P 500 Index and Fortune
1000® company. Major brands in the company’s portfolio include Robert
Mondavi wines, Hardys, Clos du Bois, Blackstone, Banrock Station, Arbor Mist,
Estancia, Ravenswood, Jackson-Triggs, Kim Crawford, Corona Extra, Black Velvet
Canadian Whisky and SVEDKA Vodka. To learn more about Constellation Brands and
its product portfolio visit the company’s Web site at
www.cbrands.com.
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