Foster’s announces new demerger appointments
Foster’s Group has announced a new lineup of key appointments for its planned demerged beer and wine businesses, Foster’s and Treasury Wine Estates.
The company said that work on the potential demerger was progressing well, and that if the demerger took place, it could be expected in the first half of 2011.
After a market search and assessment process, Foster’s said it has nominated John Pollaers for CEO of a demerged Foster’s beer business, and David Dearie for CEO of Treasury Wine Estates.
If the demerger proceeds, the company said the Boards of Foster’s and Treasury Wine Estates will include:
• Foster’s – David Crawford AO (Chairman); Michael Ullmer; Paul Clinton
• Treasury Wine Estates – Max Ould (Chairman); Lyndsey Cattermole AM
The company said it expects to announce more planned Non-Executive directors for the two companies before the demerger proposal goes to shareholders.