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FUTURE BRANDS BOARD ANNOUNCES EXECUTIVE MANAGEMENT CHANGES
FOR IMMEDIATE RELEASE: January 11, 2008
CONTACT:
Sarah Devaney
Beam Global Spirits & Wine
847-444-7661
Sarah.Devaney@beamglobal.com
Jeffrey Moran
The Absolut Spirits Co., Inc.
212-641-8720
Jeffrey.moran@absolut.com
Kelley McCormick
Qorvis Communications
202-683-3125
kmccormick@qorvis.com
FUTURE BRANDS BOARD ANNOUNCES EXECUTIVE MANAGEMENT CHANGES
Future Brands Chairman of the Board Kevin Fennessey and Beam Globals Bill Newlands Assume Greater Role in Management of the Company as Steve Bellini Plans to Step Down; Board Appoints CFO
Deerfield, Ill., January 11, 2008 Future Brands LLC, the U.S. sales and distribution services company for Beam Global Spirits & Wine, Inc. and the Absolut Spirits Company, Inc. (ASCI), announces upcoming changes to the Future Brands management team.
Future Brands president and CEO Steve Bellini will be leaving the company to pursue personal interests. Steve has agreed with the Future Brands Board to accept a transition role working with Kevin Fennessey until February 29th. The Board also announces the appointment of Robert Hill to the position of chief financial officer, replacing Barry ONeil who left for a new opportunity.
Kevin Fennessey, chairman of the Future Brands Board, will take on a greater role in the management of the company working jointly with Bill Newlands, senior vice president of U.S. Commercial Development for Beam Global Spirits & Wine Inc. to oversee day-to-day operations. Fennessey will be fully supported by the Future Brands leadership team including CFO Robert Hill and by members of the Future Brands board. The company will be taking steps during this period to prepare for a CEO search.
We want to thank Steve for his contributions to Future Brands over the past three years and we wish him all the best, stated Kevin Fennessey, Chairman of the Future Brands Board. We also want to welcome our new chief financial officer, Robert Hill. With several world-class brands in our stable such as Absolut® Vodka, Jim Beam® bourbon, Cruzan® Rum and Sauza® tequila, Future Brands is proud to drive the second highest spirits volume in the United States, continued Fennessey. These management changes invite new, exciting opportunities for the companys future and mark another step in the evolution and elevation of Future Brands.
Kevin Fennessey has 20-plus years experience in the spirits industry, having previously held executive positions at Pernod Ricard and Joseph E. Seagram & Sons. He has been president and CEO of ASCI since August 1, 2006. Fennessey was appointed Chairman of the Future Brands board in October 2007.
Bill Newlands, former president of Beam Wine Estates was also president and CEO of Allied Domecq Wines, North America. He has also served as president and CEO of Wine.com; president and CEO of the North American Still and Sparkling Wine Group of Louis Vuitton Moet Hennessys; and vice president of marketing at Ernest & Julio Gallo. Robert Hill is a seasoned finance executive with significant senior leadership experience in both retail and food product environments. He is a hands-on and detail-oriented leader with experience at growth companies from several hundred million to over one billion dollars in annual sales.
Steve Bellini is a beverage alcohol industry veteran who began his career in 1972 as a sales representative for the General Wine and Spirits ... Company, a unit of the Joseph E. Seagram Corporation. At Joseph E. Seagram Corporation, he served as vice president of national development; led their control state business - and ultimately rose to the role of president, North America. Steve was appointed president and CEO of Future Brands in 2004.
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About Future Brands LLC
Future Brands LLC is a sales and distribution services joint-venture established in 2001 that represents all U.S. spirits sales in the Beam Global Spirits & Wine, Inc. and The Absolut Spirits Company, Inc. portfolios, making it the number two spirits supplier in the U.S.
About The Absolut Spirits Company, Inc.
The Absolut Spirits Company, Inc., headquartered in New York, is a subsidiary of V&S Group and operates under the auspices of V&S Absolut Spirits in Stockholm, which produces and markets ABSOLUT® VODKA, ABSOLUT CUT, Level Vodka, FRIS® Vodka, Plymouth Gin and Cruzan® Rum.
The Absolut Spirits Company, Inc. imports ABSOLUT VODKA, Level Vodka, Plymouth Gin and Cruzan Rum in the US and distributes the brands through Future Brands LLC, a joint venture with Beam Global Spirits & Wine.
About Beam Global Spirits & Wine
Inspiring conversations around the world, Beam Global Spirits & Wine, Inc., is building brands people want to talk about. Consumers from all corners of the globe call for our brands, including Jim Beam® Bourbon, Sauza® Tequila, Canadian Club® Whisky, Courvoisier® Cognac, Makers Mark® Bourbon, Laphroaig® Scotch Whisky, Larios® Gin, Whisky DYC®, Teachers® Scotch Whisky, DeKuyper® Cordials and Liqueurs, Knob Creek® Bourbon and Starbucks Liqueurs. Beam Global Spirits & Wine is part of Fortune Brands, Inc. (NYSE:FO), a leading consumer brands company with annual sales exceeding $8 billion.
For more information on Beam Global Spirits & Wine, its brands, and its commitment to social responsibility, please visit www.beamglobal.com and www.drinksmart.com.
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PS Saw the map link also!