Foster's Group Limited (Foster's) today announced that Mr Nuno D'Aquino, Deputy CEO, will step down from the Company on November 2 after a long and distinguished career.
Mr D'Aquino was appointed to the role of Deputy Chief Executive Officer in March 2000 with primary responsibility for the strategy and execution of a group-wide business platform to facilitate a full service provider organisation. This process has developed to the stage where the continuing implementation of the strategy will be the shared responsibility of the operating divisions and the group finance function.
Mr D'Aquino joined Foster's in 1959. Throughout his 42-year career with the company he held progressively senior positions, culminating in his appointment as Deputy CEO. Mr D'Aquino led the technical team responsible for the introduction of Foster's Lager into the United Kingdom, now one of the largest markets for the Foster's brand worldwide. He oversaw breakthroughs in brewing technology which led to the introduction of new beer styles such as Carlton Cold and Foster's LightIce, both runaway success stories, and it was under his leadership that a number of packaging innovations were introduced, including PET packaging for beer.
Prior to the role of Deputy CEO, Mr D'Aquino was Managing Director of Carlton and United Breweries during one of its most dynamic periods, leading the business to achieve six consecutive years of double-digit EBIT growth - from 1993 to 1999.
Foster's President & Chief Executive Officer, Mr Ted Kunkel, said, "As the company farewells Nuno we need to recognise and celebrate his many significant achievements."
"A 42-year career rising from laboratory technician to Deputy CEO epitomises Nuno's drive and abilities."
"Over many years Nuno has made an outstanding contribution to the Company. He took over the reins of CUB at a critical time in Foster's history and doubled the EBIT contribution from that business during his tenure as Managing Director - an exceptional achievement."
"It was this strong growth, and resulting cash flow, that subsequently enabled Foster's to move into the high-growth wine industry and ultimately to become a truly global, premium branded beverage company," Mr Kunkel said.
Following Nuno's departure the position of Deputy CEO will cease to exist, and subsequent upon this the following reporting responsibilities will change.
Mr Trevor O'Hoy, Chief Financial Officer, will assume responsibility for Group IT, Logistics and Purchasing, eBusiness and Business Services. This is in addition to his current responsibilities for Finance, Investor Relations, Treasury, Taxation and Strategy. Group Human Resources will report directly to the CEO. These reporting changes are effective immediately.
Further information:
Media
Lisa Keenan
Tel: +613 9633 2233
Email: lisa.keenan@fostersgroup.com
Investor Relations
Domenic Panaccio
V-P Capital Markets
Tel: +613 9633 2641
Email: domenic.panaccio@fostersgroup.com
