Constellation Brands has emerged as the third major US-based drinks company to announce a change of CEO, with Rob Sands set to stand down early next year.
Bill Newlands will move from COO to CEO of Constellation Brands
In a statement released late yesterday, the multi-category group confirmed that Sands, who became CEO in 2007, will move to the role of executive chair, replacing his brother, Richard Sands. Bill Newlands, who joined Constellation as chief growth officer in early-2015 before becoming chief operating officer last year, moves up to the helm.
Richard Sands, meanwhile, will drop down to become executive vice chair.
Prior to joining Constellation, Newlands worked for Beam Inc, departing the group when it was acquired by Suntory Holdings in 2014.
"Since joining Constellation Brands in 2015, Bill has made a significant impact on our company, finding ways to leverage our unique capabilities as a leading total beverage alcohol provider to meet consumers' evolving needs and accelerate growth," said Rob Sands. "Bill understands what it takes to succeed in this rapidly-evolving market and he's the right person to lead our company going forward."
The moves will take effect on 1 March.
Yesterday's announcement comes in the same month as Beam Suntory confirmed Matt Shattock's intention to vacate the CEO post, with Brown-Forman announcing the same move for Paul Varga in May.
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Sectors: Beer & cider, HR – personnel, Spirits, Wine
Companies: Beam Suntory Inc, Brown-Forman, Constellation Brands
