US: CEO switcharound at Fortune Brands

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Fortune Brands has disclosed its plans for the transition of its CEO next year.

The parent company of Beam Global Spirits & Wine said today (21 August) that current president and COO Bruce Carbonari will succeed Norm Wesley in the position from January.

Carbonari, who was previously president and CEO of Moen Incorporated before it was acquired by Fortune, led the company's home and hardware subsidiary before being elected  president and COO.

Wesley, who will have served as CEO for eight years at the time of transition, shall maintain his position as chairman of the board.

Wesley said: "Bruce has been a big part of Fortune Brands' success over his 17 years with the company. He's led our biggest brand and our biggest business unit, generating strong growth at each. As president, he's skilfully overseen all our company operations.

"By continuing to serve as chairman, I will look forward to continuing to lead major strategic initiatives, including our interest in the sale process surrounding Absolut vodka."

Carbonari added: "I'm honoured by the opportunity to succeed Norm as CEO at year end and to lead a great team of 33,000 Fortune Brands people worldwide."

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