Bacardi Ltd. has appointed Seamus McBride as its new president and CEO, effective from the start of next month.

Mr. McBride, who will be based at the company's headquarters in Bermuda, will join Bacardi from the Colgate-Palmolive Co., where he served as executive vice-president and president of North America and world-wide commercial effectiveness.

"Seamus is an outstanding business leader with broad global expertise in consumer products including marketing, commercial operations, and systems," said Facundo Bacardi, chairman of Bacardi. "We look forward to benefiting from his vast experience in leading our global spirits business to new successes in a challenging competitive environment.

"He is ideally suited to build upon our record results and our premium strategy led by current president and chief executive officer, Andreas Gembler, and the Bacardi Ltd. executive team."

Mr. McBride led Colgate's business operations in the US, Canada, Puerto Rico and the Caribbean, and directed Colgate's global commercial effectiveness programme. He has more than 25 years of marketing and management experience at Colgate in positions in North America, Europe and Asia. In addition, he spent four years as marketing director for beer producer, Bass plc.

Mr. McBride, 53, will succeed Andreas Gembler, 65, who has held the position of president and CEO of Bacardi since 2005. Mr. Gembler will continue in his current role until Mr. McBride's succession, after which he will retire. Mr. Gembler will provide advice and counsel to ensure a smooth transition. "We want to thank Andreas for his extraordinary leadership and many contributions to Bacardi Ltd," said Mr. Bacardi. "During each year of his tenure, our company produced record sales, earnings from operations and net income. Andreas set the company on a transformative path that will serve us well into the future."

The Bacardi Store has officially opened its retail store on Bay Street in Nassau, Bahamas.

The grand opening by the Bermuda-based company featured the international launch of Bacardi® Reserva Limitada, a rare aged rum never before sold outside of its production site in Puerto Rico.

The first-of-its-kind Bacardi concept store, under a trademark licence agreement with the Bacardi trademark owner, is owned and operated by the Bacardi Nassau-based distributor Bristol Group of Companies Ltd.