Foster's 'splits' into three regions

GLOBAL beverages company Foster’s Group Ltd is to operate as three regional businesses covering Australia, Asia and the Pacific; the Americas; and Europe, the Middle East and Africa (EMEA).
The Foster’s board today said it had endorsed a simplified „consumer-led, customer driven“ business structure, with strengthened global processes, insights and practices.

Foster’s said each regional division would draw upon the support of a global supply chain team, global marketing and consumer insights team, and global support functions comprising finance, strategy, human resources and legal.

The beverages group would now trade as Foster’s in every market and will no longer refer to businesses as Foster’s Wine Estates, Foster’s Australia and Foster’s Brewing International.

„With the integration of Southcorp now largely complete, amd after two years of significant transformation, we’re a fundamentally different company – a great international drinks business, with an outstanding portfolio of brands,“ Foster’s chief executive Trevor O’Hoy said.

„Our unique multi-beverage business is gaining momentum, we’ve created one of the world’s finest multi-region, premium wine portfolios, and we’ve made substantial headway with our plans to realise greater value from the Foster’s beer brand.

„We’ve also divested non-core businesses and assets to enable us to focus on premium drinks.

„Our new structure brings us closer to customers and consumers while formalising and reinforcing our One Foster’s philosophy of working as one team, sharing our capabilities and infrastructure across products, processes and regions.“

From August 1, the managing director of Foster’s Wine Estates, Jamie Odell, will become managing director Foster’s Australia, Asia and Pacific.
Scott Weiss will continue as managing director Foster’s Americas.

Peter Jackson will continue as managing director, Foster’s Europe, Middle East and Africa.

Meanwhile, John Murphy, who was managing director of Foster’s Australia, has tendered his resignation, effective from August 1.

Foster’s shares were three cents lower at $5.48 at 1033 AEST today.

Source: theaustralian.news.com.au