7 December 2011
Following the successful acquisition of Foster’s Group Ltd by SABMiller plc, John Pollaers, CEO of Foster’s Group, and SABMiller have agreed that he will step down from his currentrole on 16 December 2011.
The Chairman of Foster’s Group, David Crawford, acknowledged the success of the strategy put in place by John over the past two years.
“John’s strategy realised significant benefits and put the company in a strong position to realise significant shareholder value,” Mr Crawford said. “I thank John for his leadership and professionalism during this period and wish him the very best for his future endeavours.”
To ensure a smooth transition John will be available to provide advice to SABMiller duringthe first few months of 2012.In making this announcement John Pollaers said “being CEO of Foster’s and Managing Director of CUB have been the highlights of my career. I am excited and looking forward tonew challenges.
“The past two years have seen big changes within the business and I am proud to have led the company through this period. “The demerger of the wine business, a significant restructure, and the relaunch of the iconic CUB brand have allowed this business to believe in itself again and succeed.
“I wish SABMiller, Graham Mackay, Ari Mervis, the new head of Foster’s, and the Foster’s team, all the best for a bright future.”
The effective date of acquisition will be 16 December 2011. Please refer to announcement from SABMiller for further information.