Drinks giant SABMiller has announced that its managing director of Asia, Ari Mervis, will now become the chief executive officer of the newly-acquired Foster's business.
Foster's current chief exec, John Pollaers, will step down from his role on 16 December but is said to retain an advisory role to SABMiller during the first few months of 2012 "to ensure a smooth transition".
On 2 December, SABMiller finally tied up its purchase of the iconic Australian lager firm. The deal is worth £6.5bn and will see the owner of Grolsch and Coors Light get its hands on Foster's lager as well as the famous VB and Carlton Draught brands.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Mervis - who will be based in Melbourne - will continue to be the managing director for the Asia Pacific region and will retain his role as chairman of CR Snow, the company's joint venture in China.
"Ari has been Managing Director of our Asia business since October 2007 and was the sponsor of the Foster's acquisition," said SABMiller's chief executive Graham Mackay.
"He is ideally qualified to lead the integration of Foster's into the SABMiller group and to deliver value from the acquisition for all stakeholders."
BC
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
