AUSTRALIA: CUB marketing chief makes unexpected departure
Foster's marketing man Paul Kennedy has made an unexpected departure from the company according to Australian press sources today.
A short press release issued late yesterday said Kennedy would be leaving his position as vice-president marketing for Carlton and United Breweries next month. In the release, Kennedy said "it's time for a change".
"I flagged to the company some 18 months ago that I probably would be moving on this year," he said.
Rumours of Kennedy's departure had been circulating since last week, but Foster's had maintained that Kennedy remained in his position with the company. However, press reports said he had not been at work since June 7th.
David Yardley, currently general manager of brands and marketing, is to replace Kennedy until a permanent replacement is found.
A revised assessment by Southcorp's independent expert has valued the company's shares closer to the bid value offered by Foster's Group....
Australian liquor giant Foster's bid for winemaker Southcorp is gathering momentum....
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Shares in Southcorp and Foster's have been halted from trading, pending an announcement....
Southcorp's share price has dropped below the offer price made by Foster's for the first time today (18 April)....
Foster's Group is considering upping its bid for Southcorp prior to extending its offer once again....
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