AUS: Former Diageo NA chief joins Foster's board
The Australia-based company said today (12 March) that Paul Clinton will join its board as an independent director. Clinton, who joins Foster's on 25 March, was formerly president and CEO of Diageo North America from 2000 until he retired in 2003. He also held a post on the board of the Distilled Spirits Council of the US (DISCUS) for a time.
"On behalf of shareholders I am very pleased to welcome Paul to the Foster's board", said Foster's chairman, David Crawford. "Paul's industry knowledge and extensive experience in the important North American drinks market brings a valuable perspective to the Foster's board."
Last month, Foster's posted a 6% year-on-year rise in net profit for the six months to the end of December. Profit, before significant items - such as the sale of breweries in India and Vietnam in the previous period, totalled A$398.6m (US$367.2m). Net sales were down slightly, however, by 0.5% at A$2.36bn, with sales in the Americas region falling more markedly, by 32.2% to A$98.3m.
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