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Rob
Sands Named Constellation Brands CEO
Effective
July 26; Richard Sands Remains Chairman
FAIRPORT,
N.Y., June 28, 2007 -- Constellation
Brands, Inc. (NYSE: STZ, ASX: CBR), a leading international producer and
marketer of beverage alcohol, today announced its board of directors has
named
Robert S. (Rob) Sands, 49, chief executive officer effective July 26, 2007.
Richard Sands, 56, will remain active in the company as chairman of the board.
“The
board of directors of Constellation Brands has unanimously concurred that
it is
in the best interests of the company and its stockholders that Rob Sands
succeed
Richard Sands as the next chief executive officer,” stated James A. Locke III,
head of the board’s governance committee. “Rob’s 21 years with the company; his
proven knowledge, experience and leadership abilities; established track
record
in having already served as Constellation’s general counsel, chief operating
officer and president; collectively give the board full confidence in his
capabilities to lead the company.”
Rob
Sands
joined Constellation Brands in June 1986 as general counsel overseeing the
company’s legal affairs, with an emphasis on its acquisitions. In 1993 he was
appointed executive vice president and general counsel and promoted to chief
executive officer of Constellation International after the company’s acquisition
of the United Kingdom’s Matthew Clark plc in 1998. From 2000 through most of
2002, he served as group president over both the U.K. operations and Canandaigua
Wine Company. He was named president and chief operating officer for
Constellation Brands In December 2002. He is a member of the company’s board of
directors and has a bachelor’s degree from Skidmore College and a law degree
from Pace University. Prior to joining Constellation he was an attorney at
a
Rochester, N.Y., law firm.
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“After
28
years with the company, and the last 14 as chief executive officer, it is
time
for me to pass the CEO baton, and Rob is the right choice to maintain continuity
in Constellation’s ongoing pursuit of True Growth and harvesting opportunities
to improve return on invested capital, earnings and free cash flow,” said
Richard Sands, Constellation Brands chairman and chief executive officer.
“Rob’s
focus will be to lead Constellation Brands to the next level of growth and
value
creation by maintaining the company’s entrepreneurial spirit, decentralized
structure, core values and long-term strategic vision. I will be available
to
provide guidance, although Rob will be running the company, something I firmly
believe is the right structure to maximize the company’s future growth
potential.”
Richard
Sands joined Constellation Brands in August 1979, and subsequently served
in
various wine production, finance, sales and marketing roles before being
named
executive vice president in 1982. In May 1986 he was named president and
chief
operating officer, and was named chief executive officer in 1993. In September
1999 he was named chairman. He has a bachelor’s degree from the University of
Vermont, in addition to master’s and doctorate degrees in social psychology from
the University of North Carolina.
Resulting
from these changes, Keith Wilson, 56, has been promoted to the newly created
position of chief administrative officer and he will report to Rob Sands,
also
effective July 26, 2007. Wilson, who is currently Constellation’s executive vice
president and chief human resources officer, will be overseeing the company’s
global information technology, human resources and supply chain activities,
in
addition to having responsibility for the corporate communications and community
relations group. Also effective on July 26, 2007, Jose Fernandez, 51, will
be
promoted to the new position of chief executive officer for Constellation
Wines
North America, which encompasses the company’s Constellation Wines U.S. and
Vincor Canada operations. He is currently chief executive officer for
Constellation Wines U.S.
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About
Constellation Brands
Constellation
Brands, Inc. is a leading international producer and marketer of beverage
alcohol in the wine, spirits and imported beer categories, with significant
market presence in the U.S., Canada, U.K., Australia and New Zealand. Based
in
Fairport, N.Y., the company has more than 250 brands in its portfolio, sales
in
approximately 150 countries and operates approximately 60 wineries, distilleries
and distribution facilities. It is the largest wine producer in the world;
the
largest wine company in the U.S. based upon sales dollar value, the largest
wine
company in the U.K., Australia and Canada; the second largest wine company
in
New Zealand; the largest beer importer and marketer in the U.S. through its
Crown Imports joint venture with Mexico’s Grupo Modelo; and the third largest
spirits company in the U.S. Constellation Brands is an S&P 500 Index and
Fortune 500® company. Major brands in the company’s portfolio include Corona
Extra, Black Velvet Canadian Whisky, the SVEDKA vodka line, Robert Mondavi
wines, Ravenswood, Blackstone, Hardys, Banrock Station, Nobilo, Kim Crawford,
Inniskillin, Jackson-Triggs and Arbor Mist. To
learn
more about Constellation Brands and its product portfolio visit the company’s
Web site at www.cbrands.com.
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