Fosters Group CFO to leave

Foster's Group CFO to leave

The chief financial officer of Foster's Group, Angus McKay, has announced his resignation as the firm prepares to demerge its beer and wine businesses.

Foster's said today (2 September) that McKay will leave his post "towards the end of this year". He will move to become CFO of Australian transport infrastructure firm Asciano Ltd.

The announcement comes as Foster's Group is working on a plan to demerge its beer and wine divisions and may prompt concerns about the effect that McKay's departure could have on that process.

“As finance director for our Australian beer and wine business and later, group CFO, Angus has played an important role over last six years and we wish him success in his new position,” said Foster's CEO, Ian Johnston.

McKay joined Foster’s in 2004 from Fonterra Australia and was finance director of Foster’s Australia, Asia and Pacific, before taking up the group CFO role in January 2008.