Foster’s Names Temporary CEO

Foster’s Group said today that Ian Johnston, currently a non-executive director of the company, will serve as acting chief executive officer while the company looks for a permanent replacement for Trevor O’Hoy. In addition to his ceo duties, Ian will assist chairman David Crawford in overseeing the wine review announced in June after the company admitted it had paid too much for Southcorp and Beringer.

O’Hoy also announced his resignation last month and will officially step down from his role as ceo today.

"Trevor has led Foster's through a period of significant structural and business change since his appointment as CEO in 2004, including the acquisition of Southcorp, the rationalisation of the Company's manufacturing and logistics footprint and the divestment of non-core assets,” said David.

"We again thank Trevor for his significant contribution throughout his 33 years with Foster's and wish him well in his future endeavours," he continued.

Ian, who has been a director since September 2007, is a former executive with Unilever Plc and Cadbury Plc.

The company says it continues to expect that the wine review and search for a new ceo will be concluded during the first half of fiscal 2009.


Until tomorrow, Megan

“I like life. It's something to do.”
Ronnie Shakes

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