BERMUDA: Bacardi Limited Announces Retirement of Chairman of the Board
The Board of Directors has unanimously elected Mr. Ruben Rodriguez, President and CEO to the additional position of Chairman of the Board. Mr. Rodriguez has been associated with the Company for 12 years and in the past served as the Company's Senior Vice President and CFO. Prior to joining Bacardi, Mr. Rodriguez held various international management positions in Latin America, Europe and Asia with Chesebrough Ponds, Inc., Bristol Myers Co and Sterling Drugs Inc. In addition, the Board also unanimously elected Mr. Facundo L. Bacardi and Mr. Victor R. Arellano, Jr. as Vice Chairman of the Board. Both Mr. Arellano and Mr. Bacardi are fifth generation descendants of Don Facundo Bacardi who founded the Company in Santiago de Cuba in 1862.
Mr. Bacardi has been a Director of Bacardi Limited since 1993 and currently serves as Chairman of the Corporate Strategy & Finance Committee, as well as a member of the Nominating & Governance Committee. Mr. Bacardi is a founder and President of Cardinal Holdings, Inc., an investment company, as well as a co-founder and Managing Director of bLiquid.com, an industrial exchange. Mr. Bacardi received his BS in Business Administration (Finance) from American University and a JD degree from Emory University Law School. Mr. Bacardi currently lives in Georgia.
Mr. Arellano has been a Director of Bacardi Limited since 1995 and currently serves on the Corporate Strategy and Finance Committee as well as the Human Resources and Compensation Committee. Prior to joining the Board, Mr. Arellano worked at Marine Midland Bank, NY and then at Bacardi, where he held executive positions in several divisions of the company. Mr. Arellano was born in Cuba in 1959 and studied in Mexico, Europe and the United States where he received a B.Sc. in Business Administration from Babson College in 1980. He currently lives in London.
In appointing Mr. Arellano and Mr. Bacardi as Vice Chairman, the Board recognizes the succeeding generation's commitment to the company.
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