The great-great grandson of Bacardi?s founder has been elected chairman of the privately held Bermuda-based spirits company.

Facundo L. Bacardi?s appointment as the ninth chairman in the company?s 143 year history is effective immediately and completes the company?s chairman succession plan, the company said in a statement.

Mr. Bacardi, 38, has served as vice chairman of the board for three years and has been a director of Bacardi Limited since 1993. Mr. Bacardi has been a member of the Nominating and Governance Committee, chairman of the Corporate Strategy and Finance Committee, and chairman of the Search Committee. He is the great-great grandson of Don Facundo Bacard? Mass?, who founded Bacardi in 1862 in Santiago de Cuba.

He succeeds Ruben Rodriguez who retired as chairman after five years but will remain an active member of the board of directors. During his tenure Mr. Rodriguez led the company?s growth in sales and earnings, strengthened its corporate governance and oversaw the successful acquisition of two core brands ? Grey Goose vodka and Cazadores blue agave tequila.

Mr. Rodriguez said: ?I have known and worked with Facundo for ten years and am confident he will keep Bacardi on a continued path of success for the future.?

Mr. Bacardi said: ?I?m honoured to be elected chairman of the board. Bacardi Limited has a rich history, which I proudly share from a personal and professional level. My focus will be to drive continued growth and maintain the high calibre of our excellent portfolio of premium products.?

The fifth-generation family member takes the helm of the fourth largest sprits company in the world as rivals such as Pernod Ricard SA and Fortune Brands Inc. are growing through acquisition. The Associated Press reported that Fortune matched Bacardi in size for the first time this year when it paid about $5 billion for brands such as Canadian Club whisky and Courvoisier cognac.

Fortune and Bacardi both sell about 31 million cases a year while Diageo Plc is the world?s largest spirits and wine company, selling about 91 million cases annually. Pernod Ricard, based in Paris, ranks No. 2 with 77 million cases.

Mr. Bacardi?s appointment follows closely on this summer?s appointment of Andreas Gembler, 62, as the company?s new president and chief executive officer. Mr. Gembler had a 30-year career with Philip Morris International and retired as president and CEO in 1999. He was among three outside directors appointed to Bacardi?s board in 2003. Bacardi is owned by about 600 shareholders, 98 percent of whom are part of the Bacardi family.

?We?re fortunate to have Andreas Gembler, a strong CEO with the right experience to move the business forward. I look forward to supporting Andreas and the company?s management team, and I welcome the opportunity to lead the board in this new role,? Mr. Bacardi said.

Adolfo L. Danguillecourt and Barry E. Kabalkin have also been appointed as vice chairmen, effective immediately.

Mr. Danguillecourt, 45, is a member of the Bacardi family and has served as a director of Bacardi Limited since 2001. He currently serves as chairman of the Nominating and Governance Committee.

Mr. Kabalkin, 50, served as executive vice president of Bacardi Limited from 1997 to 2000, and orchestrated the Company?s $2 billion acquisition of Dewar?s Scotch whisky, Bombay Sapphire and Bombay gin in 1998. He rejoined Bacardi Limited as a director in 2004. Mr. Kabalkin is also the managing director of Pitts Bay Partners in Washington, D.C.