Bacardi appoints new CFO
Bacardi Ltd has announced the appointment of Joseph Schena to be the company’s chief financial officer and senior vice-president.Mr Schena will replace senior vice-president and CFO Jacques Croisetière, 58, who is retiring.As senior vice-president and CFO, Mr Schena will also serve as a member of the Bacardi Leadership Team and report to Bacardi Ltd president and CEO Ed Shirley. In addition, Mr Schena will be appointed president and CEO of Bacardi International Ltd. He will join the company on December 3 and will be based in the global headquarters in Bermuda; pending approval by the Bermuda Department of Immigration.“Joe is a seasoned business leader with global financial expertise. His commitment to growing revenue, along with his analytical mindset and a passion for leading teams, will further strengthen our organisation and build upon the growth plans for our iconic brands and businesses throughout the world,” said CEO Mr Shirley.Mr Schena most recently served as partner for private equity firm Centerview Capital, focusing on the financial operations of the firm’s portfolio companies since 2007. He is currently chairman of portfolio company Richelieu Foods.He is a veteran of Gillette where from 2005-2007 he was CFO for the Gillette global business unit of Procter & Gamble responsible for Gillette’s business results, as well as integrating the financial operations of Gillette and P&G.Mr Schena was formerly the chief accounting officer, corporate controller and vice-president of Global Financial Operations for Gillette before the company’s merger with P&G in October 2005.Prior to Gillette, he was corporate vice-president of Strategy and Planning at Nabisco. Before joining Nabisco, Mr Schena spent 18 years with Kraft General Foods where he held a variety of positions of increasing responsibility including CFO of the Breakfast Business Unit. He also worked for News Corporation as Controller of the News America business unit with responsibility for planning, business analysis and accounting.“I’m thrilled to join a fascinating company with such an amazing 150-year heritage,” said Mr Schena. “I look forward to growing the business and generating results as I believe strong analytical rigour, financial discipline and solid investments can have an immediate impact on the organisation. I look at the finance department as the glue that brings all the other functions together to help a dynamic company like Bacardi succeed.”