E-Malt.com News article: World: SABMiller’s CFRO resigns with immediate effect

SABMiller PLC is searching for a new chief financial officer after Jamie Wilson on February 19 resigned with immediate effect, citing personal reasons.

The world’s second-biggest brewer by sales said Domenic De Lorenzo, currently director of group strategy, will replace Mr. Wilson while the company looks for a permanent replacement.

Mr. Wilson, 55, will step down from the board with immediate effect and be placed on “gardening leave” before officially leaving the group on March 31, the company said in a statement. Mr. Wilson will receive a year’s salary of £762,200 ($1.18 million) and a car allowance worth £17,150, as well as a bonus and pension contribution.

His departure comes at a potentially critical time for SABMiller and the beer industry as a whole, which analysts say is ripe for a period of consolidation.

SABMiller, the maker of Miller Lite, Pilsner Urquell and Peroni Nastro Azzurro, has been subject to intense speculation that it will be bought by Anheuser Busch InBev SA, the world’s biggest brewer.

SABMiller’s shares have risen 26% in the past year as investors anticipate a deal. The company last year had a bid of its own rejected by Dutch beer company Heineken NV, a move many analysts viewed as an attempt by SABMiller to ward off advances from AB InBev.

Mr. Wilson joined SABMiller in 2005 and became chief financial officer in 2011. He held a number of senior positions at the company, including managing director for Central Europe and finance director for Europe.

“I am saddened by Jamie’s departure. He has been a huge support to me over many years, first in Europe and then over the past several years as CFO,” said Chief Executive Officer Alan Clark.


20 February, 2015