US: Brown-Forman CFO to stand down
Brown-Forman has confirmed a change of CFO next month.
The US-based wine and spirits company said late last week that Phoebe Wood, who also holds the position of vice-chairman, will retire from the positions at the end of April. Wood, who joined Brown-Forman in 2001, will be replaced by Donald Berg.
"Phoebe brought thoughtful, trusted oversight to Brown-Forman's financial functions, and she has helped lead our company during a period of strong financial performance and development over the last seven years," said Paul Varga, Brown-Forman's CEO. "I know that our shareholders join all of us at Brown-Forman in thanking Phoebe for her excellent service to Brown-Forman and in wishing her well in her new endeavours."
Berg, a 19-year veteran of the company, has served as senior vice president and director of corporate finance since 2006. He joined the company in 1988 as assistant to then-company president Owsley Brown III.
In 2003, he took a leadership position in the US sales and marketing organisation and became president of the Americas later that year.
Wood will "assist in an orderly transition of her duties and responsibilities to the new CFO", the company said.
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