Bacardi has announced the pending retirement of the president of its Puerto Rican operations, and the promotion of a Bacardi family member to the post.

Angel Torres will move from his present position as president of Bacardi Corporation - the name of its Puerto Rico-based unit - to become chairman, with a view to retiring altogether at the end of October, the company said today (11 February). Torres will be replaced as president - as well as becoming CEO - by Joaquin Bacardi, a senior global brand marketing director with the company and great-great grandson of founder Don Facundo Bacardi.

The two promotions take effect from 1 April, with Torres due to retire after 28 years with the company on 31 October.

As chairman, Torres will be responsible for the corporate entity and presence of Bacardi in Puerto Rico, while continuing to manage the company's governmental relations, environmental and community and social responsibility activities in the country.

"Puerto Rico has always had a special role for Bacardi as it is recognised as the chief production site of Bacardi rum," said John Esposito, president and CEO of Bacardi North America. "These promotions further solidify the company's presence and growth of the Bacardi family of brands in Puerto Rico, islands of the Caribbean and Atlantic - the preferred tourist destinations in the region."

In his new roles at Bacardi Corporation, Puerto Rican-born Joaquin Bacardi will be responsible for managing the day-to-day business operations and marketing for the entire Caribbean region. His marketing area will be expanded to include The Bahamas and Bermuda. He will also become a member of the North American Global Executive Committee.