Rumors of Bacardi Shopping New CEO
Bacardi is allegedly looking for a new ceo to help lead the company in acquiring more brands. The Scotsman is citing sources who say Bacardi has appointed headhunters amid speculation that current ceo Andreas Gembler will move to a senior executive role on the board.
Earlier this year Graham Tetherington, formerly finance director at Allied Domecq, quit eight months after taking a job at Bacardi.
An analyst told The Scotsman: “They missed out on Absolut, they were not involved in the Allied deal and maybe there is a little bit of concern that the big deals are passing them by and they need someone more aggressive at the helm.”
“But it must be very difficult for if you work for Bacardi and see an acquisition. It is hard to raise a lot of money because your hands are constantly tied as the family do not want to float.”
Gembler was appointed ceo and president in June 2005.
Bacardi has declined to comment.
PAUL DUFFY APPOINTED NEW CEO OF PERNOD USA
Pernod Ricard has appointed Alexandre (Alex) Ricard as chairman and ceo of its Irish subsidiary, Irish Distillers. Ricard, 36, moves from his role as managing director of Pernod’s Asia Duty Free in Hong Kong. He is the nephew of Patrick Ricard, Pernod’s chairman and ceo.
The former leader of Irish Distillers, Paul Duffy, is assuming the post of chairman and ceo of Pernod Ricard USA.
Both appointments take effect on July 1.
WSD is not yet clear on where Alain Barbet, the current ceo and chairman of Pernod USA, is moving.
JACK DANIEL’S DISTILLER SUED FOR HARASSMENT
Former Jack Daniel’s master distiller Jimmy Bedford is being sued over claims of sexual harassment, according to an article in the Louisville Courier Journal. Company spokesman Phil Lynch said Bedford was given the choice of either retiring or being fired after the sexual harassment claims were made. After serving 20 years as master distiller, Bedford chose retirement. He was 68 at the time.
In the lawsuit filed last week in a Texas state court, Bedford is accused of “inappropriately touch and groping” Claudia Falkenberg, the market brand manager for Jack Daniel's in the Houston area, during a five-day trip to Texas last November. Falkenberg is seeking damages of up to $3.5 million. As the Courier stated, the lawsuits only give her side of the story.
B-F isn’t named as a defendant in the lawsuit, but a separate compliant against the company is currently before the U.S. Equal Employment Opportunity Commission, according to the plaintiff’s lawyer.
Brown-Forman has a strict policy that forbids all types of harassment, spokesman Lynch said, and all of the company's 4,000 employees are required to attend periodic training.
"As soon as our HR department learned of the complaints, we investigated them thoroughly and took action and Jimmy Bedford left the company," Lynch continued.
The lawsuit says Falkenberg is now undergoing therapy and taking medication, and is suffering from emotional distress. She reportedly still works for Brown-Forman, but plans to leave shortly.
MICHEL ROLLAND: NAPA SECOND ONLY TO FRANCE
Famed French winemaker Michel Rolland said Napa Valley has more great wines than any other country besides France.
In an interview with the Napa Valley Register, Rolland said: “Napa Valley has one of the highest ceilings in the world. Napa Valley is a place where we can find a lot of great wines now.”
“There are more great wines in Napa Valley than in Italy.”
He has been visiting Napa for 22 years and says “they don’t need me much in the vineyards. They know what to do after 20 years.” Instead, he assists more with blending.
Interestingly, he said good wines can be made everywhere, although great wines can’t be made everywhere.
“Even at $2.99, you can make a good wine,” he said. “People (growers and vintners) will be disappointed if they don’t accept that.”
He also said he likes working with American wineries because they have “more energy and creativity than elsewhere” and are quicker at making decisions.
“I was born in Bordeaux, and I know French behavior. You need five years to convince people to do something.”
REMY POSTPONES FULL YEAR FINANCIAL RELEASE
Remy Cointreau said it has postponed the release of its full-year earnings to next week due to a disagreement over the valuation of distribution joint-venture Maxxium, of which Remy has a 25% stake. Remy announced in 2006 it would exit Maxxium by March 2009 and is currently organizing its own distribution networks. In addition to Remy, Fortune Brands, Edrington Group and Vin & Sprit have a stake in Maxxium, but V&S has also indicated it would likely exit Maxxium upon being acquired by Pernod Ricard.
Remy said Maxxium’s board of directors met in Amsterdam Jun. 19 but wasn't able to approve Maxxium's financial statements
"In the context of Remy Cointreau's exit from Maxxium on March 30, 2009, and with the likelihood of Vin&Sprit also leaving the network due to its acquisition by Pernod Ricard, which is currently under negotiation, no consensus was reached between the four shareholders on the value, at March 31, of the goodwill initially recognized in Maxxium's financial statements on its incorporation in 1999," Remy Cointreau said.
Maxxium's shareholders have decided to allow more time to continue their discussions and will not disclose the group’s full year financial statement “for the time being.”
"Depending on the value adopted, a provision for depreciation will or will not be recognised in the net result of the joint venture," Remy said.
The French company estimated the impact on its consolidated net profit would be less than 10% of its estimated net profit.
A new meeting of Maxxium's board will take place on July 29.
CENTRAL COAST GOES SOLAR
Three big systems in Paso Robles are switching their wineries to solar power, including EOS winery, J. Lohr Vineyards and Meridian. Together, they will generate more than 2.5 million kilowatts of power, more than all solar-powered wineries in Napa and Sonoma counties combined, according to an article in the San Luis Obispo. EOS will be the largest winery in California to provide 100% of its electric power needs using solar energy.
“At EOS, we believe strongly in producing our wines in a way that is friendly to the land and the environment as a whole,” Jeff Hopmayer said in the article. “We’re trying to be environmentally friendly and do this the right way.”
MAJESTIC FINE WINES EXPANDS
Majestic Fine Wines, the sales organization for Jackson Family Wines, has filled twelve newly created positions to support the expansion of its super-premium and luxury wine sales.
"The United States is poised to become the leading wine consuming country in the world," says Bill O'Connor, Vice President/National Sales Manager. "Despite the current economic slowdown, we at Majestic Fine Wines are expanding our sales efforts to meet the expected long-term consumer demand for fine wines nationwide."
HIRAM WALKER INTRODUCES TWO NEW SCHNAPPS FLAVORS
Hiram Walker is bringing two new schnapps flavors to shelves: Hiram Walker Blueberry Passion Schnapps and Hiram Walker White Peach Schnapps.
“Recent research shows the blueberry based flavors are the top new flavor choice of bartenders polled while retail consumers chose peach as their number two flavor just behind sour apple which is showing a decline in popularity and sales. We are confident this modern version of peach – White Peach – will be a hit,” said Cort Kinker, Hiram Walker brand director at Pernod Ricard.
Blueberry Passion and White Peach Schnapps are available at a suggested retail price of $9.99/750ml.
WSD BRIEFS:
REMY COINTREAU USA HAS APPOINTED Xavier Desaulles as senior VP, sales strategy. Xavier will be charged with organizing Remy Cointreau USA's wholesaler network and implementing the changes resulting from Remy's distributor alliance with Bacardi and Brown-Forman. Xavier joined Remy USA from its headquarters in Paris, where he was the director of business development.
VINEXPO HAS APPOINTED XAVIER DE EIZAGUIRRE AS PRESIDENT of Vinexpo Bordeaux, the international wine and spirits exhibition. Eizaguirre, general manager and member of the management board of Baron Philippe de Rothschild, succeeds Jean-Marie Chadronnier, director of CVBG Dourthe Kressmann. Chadronnier presided over the exhibition during the three Vinexpos in Bordeaux in 2003, 2005 and 2007.
LIQUOR CONTROL COMMISSION DIRECTOR HERBERT BRAVERMAN of the Ohio Liquor Control Commission was fired after six months on the job. Local papers report that liquor control chairman Michael Shaheen said Braverman was dismissed because “of a series of concerns” about his performance.
DISCUS HAS LAUNCHED A RADIO AD IN DELAWARE assailing a proposed 50% alcohol tax increase on beer, wine and spirits. Discus says legislators are being hypocritical by spending millions of dollars toward boosting tourism, while at the same time proposing high taxes on tourism-related businesses and their workers.
FAMILY WINERIES OF WASHINGTON STATE is a new organization formed to advocate for issues of importance to small, artisan wineries. The new organization intends to function much like Family Winemakers of California. It will work closely with the Washington Wine Institute (WWI), while independently addressing issues that are important to smaller family wineries.
FRESHDIRECT CEO LEAVES FOR SUPERVALU. Online grocer FreshDirect is losing its ceo, Steve Michaelson, who is leaving to become CMO of Supervalue supermarkets. FreshDirect Chairman Richard Braddock will add the title of CEO.
Until tomorrow, Megan
“Life is a long lesson in humility.”
James M. Barrie
--------- Sell Day Calendar ----------
Today's Sell Day: 16
Sell days this month: 21
Sell days this month last year: 21
This month ends on a: Mon.
This month last year ended on a: Fri.
YTD sell days Over/Under: 0
WINE & SPIRITS DAILY
Subscribe or check back issues at: www.winespiritsdaily.com
Send news and comments in confidence to: megan@winespiritsdaily.com
© 2008 Wine & Spirits Daily, all rights reserved. May quote with attribution.
Earlier this year Graham Tetherington, formerly finance director at Allied Domecq, quit eight months after taking a job at Bacardi.
An analyst told The Scotsman: “They missed out on Absolut, they were not involved in the Allied deal and maybe there is a little bit of concern that the big deals are passing them by and they need someone more aggressive at the helm.”
“But it must be very difficult for if you work for Bacardi and see an acquisition. It is hard to raise a lot of money because your hands are constantly tied as the family do not want to float.”
Gembler was appointed ceo and president in June 2005.
Bacardi has declined to comment.
PAUL DUFFY APPOINTED NEW CEO OF PERNOD USA
Pernod Ricard has appointed Alexandre (Alex) Ricard as chairman and ceo of its Irish subsidiary, Irish Distillers. Ricard, 36, moves from his role as managing director of Pernod’s Asia Duty Free in Hong Kong. He is the nephew of Patrick Ricard, Pernod’s chairman and ceo.
The former leader of Irish Distillers, Paul Duffy, is assuming the post of chairman and ceo of Pernod Ricard USA.
Both appointments take effect on July 1.
WSD is not yet clear on where Alain Barbet, the current ceo and chairman of Pernod USA, is moving.
JACK DANIEL’S DISTILLER SUED FOR HARASSMENT
Former Jack Daniel’s master distiller Jimmy Bedford is being sued over claims of sexual harassment, according to an article in the Louisville Courier Journal. Company spokesman Phil Lynch said Bedford was given the choice of either retiring or being fired after the sexual harassment claims were made. After serving 20 years as master distiller, Bedford chose retirement. He was 68 at the time.
In the lawsuit filed last week in a Texas state court, Bedford is accused of “inappropriately touch and groping” Claudia Falkenberg, the market brand manager for Jack Daniel's in the Houston area, during a five-day trip to Texas last November. Falkenberg is seeking damages of up to $3.5 million. As the Courier stated, the lawsuits only give her side of the story.
B-F isn’t named as a defendant in the lawsuit, but a separate compliant against the company is currently before the U.S. Equal Employment Opportunity Commission, according to the plaintiff’s lawyer.
Brown-Forman has a strict policy that forbids all types of harassment, spokesman Lynch said, and all of the company's 4,000 employees are required to attend periodic training.
"As soon as our HR department learned of the complaints, we investigated them thoroughly and took action and Jimmy Bedford left the company," Lynch continued.
The lawsuit says Falkenberg is now undergoing therapy and taking medication, and is suffering from emotional distress. She reportedly still works for Brown-Forman, but plans to leave shortly.
MICHEL ROLLAND: NAPA SECOND ONLY TO FRANCE
Famed French winemaker Michel Rolland said Napa Valley has more great wines than any other country besides France.
In an interview with the Napa Valley Register, Rolland said: “Napa Valley has one of the highest ceilings in the world. Napa Valley is a place where we can find a lot of great wines now.”
“There are more great wines in Napa Valley than in Italy.”
He has been visiting Napa for 22 years and says “they don’t need me much in the vineyards. They know what to do after 20 years.” Instead, he assists more with blending.
Interestingly, he said good wines can be made everywhere, although great wines can’t be made everywhere.
“Even at $2.99, you can make a good wine,” he said. “People (growers and vintners) will be disappointed if they don’t accept that.”
He also said he likes working with American wineries because they have “more energy and creativity than elsewhere” and are quicker at making decisions.
“I was born in Bordeaux, and I know French behavior. You need five years to convince people to do something.”
REMY POSTPONES FULL YEAR FINANCIAL RELEASE
Remy Cointreau said it has postponed the release of its full-year earnings to next week due to a disagreement over the valuation of distribution joint-venture Maxxium, of which Remy has a 25% stake. Remy announced in 2006 it would exit Maxxium by March 2009 and is currently organizing its own distribution networks. In addition to Remy, Fortune Brands, Edrington Group and Vin & Sprit have a stake in Maxxium, but V&S has also indicated it would likely exit Maxxium upon being acquired by Pernod Ricard.
Remy said Maxxium’s board of directors met in Amsterdam Jun. 19 but wasn't able to approve Maxxium's financial statements
"In the context of Remy Cointreau's exit from Maxxium on March 30, 2009, and with the likelihood of Vin&Sprit also leaving the network due to its acquisition by Pernod Ricard, which is currently under negotiation, no consensus was reached between the four shareholders on the value, at March 31, of the goodwill initially recognized in Maxxium's financial statements on its incorporation in 1999," Remy Cointreau said.
Maxxium's shareholders have decided to allow more time to continue their discussions and will not disclose the group’s full year financial statement “for the time being.”
"Depending on the value adopted, a provision for depreciation will or will not be recognised in the net result of the joint venture," Remy said.
The French company estimated the impact on its consolidated net profit would be less than 10% of its estimated net profit.
A new meeting of Maxxium's board will take place on July 29.
CENTRAL COAST GOES SOLAR
Three big systems in Paso Robles are switching their wineries to solar power, including EOS winery, J. Lohr Vineyards and Meridian. Together, they will generate more than 2.5 million kilowatts of power, more than all solar-powered wineries in Napa and Sonoma counties combined, according to an article in the San Luis Obispo. EOS will be the largest winery in California to provide 100% of its electric power needs using solar energy.
“At EOS, we believe strongly in producing our wines in a way that is friendly to the land and the environment as a whole,” Jeff Hopmayer said in the article. “We’re trying to be environmentally friendly and do this the right way.”
MAJESTIC FINE WINES EXPANDS
Majestic Fine Wines, the sales organization for Jackson Family Wines, has filled twelve newly created positions to support the expansion of its super-premium and luxury wine sales.
"The United States is poised to become the leading wine consuming country in the world," says Bill O'Connor, Vice President/National Sales Manager. "Despite the current economic slowdown, we at Majestic Fine Wines are expanding our sales efforts to meet the expected long-term consumer demand for fine wines nationwide."
HIRAM WALKER INTRODUCES TWO NEW SCHNAPPS FLAVORS
Hiram Walker is bringing two new schnapps flavors to shelves: Hiram Walker Blueberry Passion Schnapps and Hiram Walker White Peach Schnapps.
“Recent research shows the blueberry based flavors are the top new flavor choice of bartenders polled while retail consumers chose peach as their number two flavor just behind sour apple which is showing a decline in popularity and sales. We are confident this modern version of peach – White Peach – will be a hit,” said Cort Kinker, Hiram Walker brand director at Pernod Ricard.
Blueberry Passion and White Peach Schnapps are available at a suggested retail price of $9.99/750ml.
WSD BRIEFS:
REMY COINTREAU USA HAS APPOINTED Xavier Desaulles as senior VP, sales strategy. Xavier will be charged with organizing Remy Cointreau USA's wholesaler network and implementing the changes resulting from Remy's distributor alliance with Bacardi and Brown-Forman. Xavier joined Remy USA from its headquarters in Paris, where he was the director of business development.
VINEXPO HAS APPOINTED XAVIER DE EIZAGUIRRE AS PRESIDENT of Vinexpo Bordeaux, the international wine and spirits exhibition. Eizaguirre, general manager and member of the management board of Baron Philippe de Rothschild, succeeds Jean-Marie Chadronnier, director of CVBG Dourthe Kressmann. Chadronnier presided over the exhibition during the three Vinexpos in Bordeaux in 2003, 2005 and 2007.
LIQUOR CONTROL COMMISSION DIRECTOR HERBERT BRAVERMAN of the Ohio Liquor Control Commission was fired after six months on the job. Local papers report that liquor control chairman Michael Shaheen said Braverman was dismissed because “of a series of concerns” about his performance.
DISCUS HAS LAUNCHED A RADIO AD IN DELAWARE assailing a proposed 50% alcohol tax increase on beer, wine and spirits. Discus says legislators are being hypocritical by spending millions of dollars toward boosting tourism, while at the same time proposing high taxes on tourism-related businesses and their workers.
FAMILY WINERIES OF WASHINGTON STATE is a new organization formed to advocate for issues of importance to small, artisan wineries. The new organization intends to function much like Family Winemakers of California. It will work closely with the Washington Wine Institute (WWI), while independently addressing issues that are important to smaller family wineries.
FRESHDIRECT CEO LEAVES FOR SUPERVALU. Online grocer FreshDirect is losing its ceo, Steve Michaelson, who is leaving to become CMO of Supervalue supermarkets. FreshDirect Chairman Richard Braddock will add the title of CEO.
Until tomorrow, Megan
“Life is a long lesson in humility.”
James M. Barrie
--------- Sell Day Calendar ----------
Today's Sell Day: 16
Sell days this month: 21
Sell days this month last year: 21
This month ends on a: Mon.
This month last year ended on a: Fri.
YTD sell days Over/Under: 0
WINE & SPIRITS DAILY
Subscribe or check back issues at: www.winespiritsdaily.com
Send news and comments in confidence to: megan@winespiritsdaily.com
© 2008 Wine & Spirits Daily, all rights reserved. May quote with attribution.
posted at 2:36 PM
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