Cott Corporation has confirmed the appointment of its new chief financial officer.

The Canada-based store-brand beverage producer said yesterday (12 March) that Juan Figuereo will assume the position from 26 March, replacing interim CFO Tina Dell'Aquila. Figuereo joins Cott from Wal-Mart International, where he has been vice president of mergers and acquisitions since 2003.

Prior to joining Wal-Mart, Figuereo spent 15 years with PepsiCo in a number of international finance and general management roles.

"Juan's extensive global experience and his hands-on leadership of financial turnarounds is a perfect fit for Cott at this stage in our company's evolution," said Brent Willis, Cott's CEO.

Last month, Cott posted losses of C$17.5m (US$14.8m) for 2006, blaming costs related to plant closures in the US and to its UK resin supplier going into receivership.