Bacardis outgoing CFO will stay on until the end of the year

Bacardi's outgoing CFO will stay on until the end of the year

Bacardi has confirmed the retirement of its CFO, Jacques Croisetière.

The company said earlier today (29 October) that Croisetière, 58, will step down at the end of the year. His “planned” retirement comes three years after he assumed the role, in July 2009

Croisetièr will be replaced by Joseph Schena, who joins Bacardi from private equity firm Centerview Capital.

Schena, 54, will also assume Croisetièr's senior VP and Bacardi International president & CEO positions. Bacardi International is “the owner of the business attached to Bacardi’s principal brands”, a spokesperson for the company told just-drinks.

Schena joins the company on 3 December and will be based in the global headquarters in Bermuda, where he will report in to Bacardi's president & CEO, Ed Shirley. He has also worked for Gillette, Nabisco and Kraft General Foods.

“Under Jacques leadership, Bacardi Limited strengthened its corporate and financial governance practices, he was also a key influencer, setting up significant platforms and programs to move the company forward,” said Shirley.

“We thank Jacques for his dedication to the company and wish him all the best in his retirement.”