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Old 02-12-2008, 12:59 PM   #1
Edward Hamilton
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Default Bacardi Corporation Announces New Leadership

Source: Business Wire Feb 11th

Angel Torres Appointed Chairman; Joaquin Bacardi Named President and CEO
Bacardi Corporation today announced two significant promotions to its executive leadership team. Angel O. Torres, currently president of Bacardi's Puerto Rico operations, has been promoted to chairman, while Joaquin Bacardi, currently a senior global brand marketing director, has been named as president and chief executive officer of Bacardi Corporation. Both promotions are effective April 1, 2008.

"Puerto Rico has always had a special role for Bacardi as it is recognized as the chief production site of BACARDI rum, the world's favorite rum," said John P. Esposito, president and chief executive officer of Bacardi North America. "These promotions further solidify the Company's presence and growth of the Bacardi family of brands in Puerto Rico, islands of the Caribbean and Atlantic -- the preferred tourist destinations in the region."
As chairman, Mr. Torres will be responsible for the corporate entity and presence of Bacardi in Puerto Rico, while continuing to manage the Company's governmental relations, environmental and community and social responsibility activities in Puerto Rico.

Under the direction of Mr. Torres, the Bacardi portfolio of brands has held a leadership position in the region. Since Mr. Torres assumed the position of president in 1997, Bacardi Corporation has been recognized by various organizations for the development of comprehensive social responsibility programs in Puerto Rico.

Mr. Torres will support Mr. Bacardi through a transition until October 31, 2008, when Mr. Torres plans to retire after 28 years with the Company.
As president and chief executive officer of Bacardi Corporation, Puerto Rican-born Mr. Bacardi will be responsible for managing the day-to-day business operations and marketing for the entire Caribbean region. His marketing area will be expanded to include The Bahamas and Bermuda. Mr. Bacardi will also manage the state-of-the-art Casa Bacardi Visitor Center, at the company's distillery in Cataño, Puerto Rico, which attracts more than 200,000 visitors a year. He will also become a member of the North American Global Executive Committee.

Throughout his 15-year career with Bacardi, Mr. Bacardi has held a variety of leadership and management positions including brand manager for BACARDI rums in Puerto Rico, marketing director for the Americas for BACARDI rums and most recently as senior brand director responsible globally for DEWAR'S Blended Scotch whisky, the number-one selling blended Scotch whisky in the United States and one of the world's favorites.

Mr. Bacardi is the great-great grandson of the Company founder, Don Facundo Bacardí Massó, who founded the company in 1862 in Santiago de Cuba.
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