Australia: Foster's appointed Ian Johnston as acting Chief Executive Officer

The Board of Foster's Group Limited (Foster's) announced that Chief Executive Officer, Trevor O'Hoy, will step down from his role on July 21.

Ian Johnston, currently a non-executive Director of the Company, has agreed to assume the role of Acting Chief Executive Officer, pending the appointment of a permanent successor to Mr O'Hoy.

Ian's brief from the Board is to maintain senior management focus and energise the team to drive day-to-day business performance across product categories and global businesses. He will also assist Chairman, David Crawford in overseeing the Wine Review announced on 10 June.

Chairman, Mr David Crawford said, "Trevor has led Foster's through a period of significant structural and business change since his appointment as CEO in 2004, including the acquisition of Southcorp, the rationalisation of the Company's manufacturing and logistics footprint and the divestment of non-core assets".

"We again thank Trevor for his significant contribution throughout his 33 years with Foster's and wish him well in his future endeavours", David said.

Ian Johnston, who has been a director since September 2007, is a former Managing Director, Global Confectionery for Cadbury Schweppes plc and has extensive experience in the international beverage industry with Cadburys in Australia and the UK. Ian began his career with Unilever in Australia, Canada and Europe.

The Company continues to expect that the previously announced Wine Review and search for a new CEO will be concluded during the first half of fiscal 2009.

23 July, 2008