BACARDI APPOINTS RIVAL EXECUTIVE

Former head of Moet Hennessy USA, John Esposito, is taking over Eduardo Sardiña’s position as president and CEO of Bacardi USA. Eduardo chose to retire after 33 years with Bacardi and more than a decade overseeing the company’s North American region. Bacardi was attracted to John’s experience with luxury brands at Moet Hennessy and felt he “understands how to manage premium brands,'' said Andreas Gembler, president and chief executive of Bacardi Ltd.

With thoughts of one day becoming a public company, Bacardi has broken away from tradition lately by hiring seasoned outside executives as an attempt to keep pace in the ever changing spirits industry. After all, recruiting knowledge and experience from the competition never hurts. John joined Moet Hennessy’s precursor, Schieffelin & Somerset, in 1992 and became president and chief in 1999.