Australia: Boss of SABMiller’s Carlton & United Breweries departing in October
The boss of Australian beer giant Carlton & United Breweries, Ari Mervis, will be departing in October after five years running the business making brands Victoria Bitter and Carlton Draught, AFRWeekend reported on August 12.
Mr Mervis has been at the helm of CUB since late 2011 when he was installed into the role following the A$12.3 billion takeover of Foster's Group.
He has told CUB staff in a note about his impending departure. A CUB spokesman confirmed the changes.
The exit is being prompted by the looming change of control of SABMiller in a global beer mega-merger where Anheuser-Busch InBev is buying out SABMiller in a A$145 billion global deal.
The note from Mr Mervis said that "as a consequence of the acquisition I will relinquish my position and will be leaving the company at change of control".
His exit comes as CUB on October 1 will resume its position as the No.1 player in the A$14 billion Australian beer market after it assumes the distribution rights for the biggest-selling imported beer brand in Australia, Corona.
CUB will take over the rights for Corona from rival brewer Lion, which is owned by Japan's Kirin Corporation. Lion will receive up to A$300 million in compensation payments for letting go of Corona and a handful of other beer brands, which are also as a consequence of the global mega-merger.
CUB's market share will rise to about 45 per cent in Australia after Corona comes into the stable, through the addition of about 6 per cent in extra market share.
Mr Mervis, along with being the chief executive of CUB also had broader responsibilities as chief executive of SABMiller Asia Pacific, which included overseeing Vietnam, China and India.
Anheuser-Busch InBev sweetened its offer for SABMiller marginally in late July to compensate for the fall in the British pound since Britain voted to exit the European Union in June. The company intends putting in place an executive from Canada, Jan Craps, to oversee a new Asia-Pacific regional structure, which includes Australia, after the takeover.
07 August, 2016
