Despite the success of Paul Masson – recent named Cognac and Brandy Brand Champion 2015 by The Spirits Business – Constellation Brands reported flat sales in 2014/15, with just 1% growth.
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Mr. Ryder, who joined the beverage company in 2007 as CFO, said he would “seek new challenges and explore external opportunities”.
“Constellation Brands is investing because we believe that premium Mexican beer will keep growing and will keep leading this segment of the USA beer market for years to come”, said Sands.
Constellation isn’t the only brewer to have caught on to Mexico’s beer boom.
“David is a dynamic and effective leader with strong financial and strategic capability”, said Sands.
Ryder’s departure is amicable and unrelated to the company’s financial performance or financial reporting, according to Constellation. Mr. Ryder will work with Mr. Klein to ensure a smooth transition, the CEO added.
Constellation Brands is an worldwide producer and marketer of beer, wine and spirits and has operations in the USA, Canada, Mexico, New Zealand and Italy.
The S&P 500 represents the industry standard for large-cap indices. Its wine brands consist of Robert Mondavi, Clos du Bois, Kim Crawford, Rex Goliath, Mark West, Franciscan Estate, Ruffino and Jackson-Triggs.
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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
