Foster’s CEO, Trevor O’Hoy, left the company yesterday.
Ian Johnston a former managing director, global confectionary, with Cadbury Schweppes, has been appointed acting CEO.
O’Hoy announced his resignation on 10 June as the company published a write-down of its wine assets of up to AUS$760m.
He had agreed to remain as CEO until a successor was found.
Johnston, currently a non-executive director of the company, has held executive positions with Cadburys in Australia and the UK having begun his career with Unilever in Australia, Canada and Europe.
Announcing the change, Foster’s chairman, David Crawford, said that Johnston’s brief was to ‘maintain senior management focus and energise the team to drive day-to-day business performance across product categories and global businesses.’
He said that Johnston would help him oversee the review of Foster’s wine assets, also announced on 10 June.
The review, which was begun in April, will be complete by the end of 2008. It will review the structure and operation of Foster’s entire wine business, ‘and how we compete and operate in the wine industry,’ a spokesman said.
Written by Chris Snow in Adelaide