Blog: Chris Brook-CarterLike a bat out of hell

Chris Brook-Carter | 29 November 2004

What are we to make of the departure of Bacardi CEO Javier Ferran last week? The official line is that it was for personal reasons and there is no obvious evidence to doubt the press releases.

But Ferran is not the first Bacardi boss to leave unexpectedly - Chip Read threw in the towel when he found his plans to take Bacardi public had run aground on the vested interests of family shareholders.

Read’s departure was a victory for those Bacardi family members who argued that there was no need to go public in order to compete against the likes of Diageo and Allied Domecq. Though his reasons for leaving may be personal, Ferran’s decision also favours the private camp. It will certainly put any plans for an IPO on ice while the company searches for a new CEO with the diplomatic skills needed to navigate the family politics at Bacardi.

Furthermore one cannot help but wonder if Ferran’s departure is another sign the ‘stay private’ campaign is in the ascendancy again. Would Ferran have left had he felt a lucrative IPO pay-off was on offer in the short to medium term?

As it is, chairman Rubin Rodriguez is back in charge and among the press and investment community he is seen as a “family-man” who is unlikely to push through a public flotation against stiff opposition.

That said, with cash flow still strong and the potential success of the Grey Goose acquisition under their belt, those in favour of remaining private have an argument that remains convincing.


BLOG

Bad day on the beer? This'll help

If you work for a brewer and are having a rough week, take a minute to regain some perspective with this, from the good people at US craft beer producer Sierra Nevada Brewing Co....

BLOG

Brewers Association "bid" to buy Anheuser-Busch InBev strikes a chord

Is this a case of if you can't beat them, buy them?...

BLOG

Non-alcoholic beer fails the Bernstein challenge

Crazy days in the Bernstein offices. Taking time out from being one of the world’s top beverage analysts, the Bernstein team, lead by its London-based veteran Trevor Stirling, held its very own taste ...

BLOG

AG Barr launches Funkin innovation search

AG Barr has lined up a Funkin campaign in the UK to find an 'innovation champion'. ...

just-drinks homepage



Forgot your password?