Bermuda-based Bacardi Ltd. has appointed Jacques Croisetière as chief financial officer (CFO) and senior vice-president.

Mr. Croisetière, 55, succeeds Ralph Morera, 64, who is retiring.

He will join the company next month and will be based in Bacardi's global headquarters in Hamilton, subject to approval by the Bermuda Department of Immigration.

"Jacques is a highly experienced and seasoned business leader with a global financial expertise that will allow him to build upon the Bacardi Ltd. achievements," said Séamus McBride, chief executive officer and president of Bacardi.

"Jacques is a superb financial executive, strategist, and leader and is known for building strong global teams and driving shareholder return. His knowledge and experience in finance, mergers and acquisitions, consumer products, and business development will allow Bacardi Ltd. and its family of brands to achieve even greater success in the spirits industry."

Mr. Croisetière was most recently at Rohm and Haas, where he served as the CFO for six years. In a career spanning 10 years with Rohm and Haas, he assumed positions of increasing responsibility, including vice-president and European region director and director of ion exchange resins in Paris.

Mr. Croisetière was a key architect in the recent purchase of Rohm and Haas by The Dow chemical company. He also worked for Morton International Inc. from 1990 to1997 and Sara Lee Corp. from 1983 to 1990 in a variety of finance-related positions.