E-Malt.com News article: Australia: Lion hires former Diageo executive as CEO

Beer group Lion, which makes brands including Tooheys, XXXX Gold and West End, has hired Diageo executive Sam Fischer to become its new chief executive as the company tries to reinvigorate a declining mainstream beer market and faces a hospitality sector battered by the pandemic, AFR reported on February 8.

He will take over from Stuart Irvine, who signalled he was departing in May last year but will stay in the job until July.

Mr Fischer is currently president of Asia Pacific and global travel with the global spirits company Diageo and part of its global executive committee. He is also a non-executive director with luxury goods and fashion company Burberry Group.

He has an uphill battle as Lion tries to turn around falling mainstream beer sales, and grapples with the continued difficulties of its hospitality venue customers in the pandemic where shutdowns and capacity restrictions have crippled many businesses.

The company is pinning much of its hopes on expansion in the faster-growing craft beer segment. Lion in November made its second large acquisition in craft beer in the United States in three years, with the buyout of Michigan-based Bell’s Brewery from owner Larry Bell, who built up a business which now employs 550 staff, from a start-up in 1985.

Lion has slimmed down after the A$560 million sale of its Lion Dairy & Drinks milk and yoghurt operations to Vegemite owner Bega Cheese, which was finalised early in 2021.

That gave Bega big brands such as Dairy Farmers, Yoplait, Big M, Masters and Farmers Union.

Mr Fischer, who is currently based in Singapore and grew up in Adelaide, worked with Colgate-Palmolive for 15 years earlier in his career, starting in Australia and shifting to senior commercial roles in Europe and Asia.

Lion chairman Sir Rod Eddington said Mr Fischer brought 30 years of global leadership experience, deep expertise in alcohol beverages and consumer goods businesses and a strong track record in driving business growth.

Lion is owned by Japanese brewing conglomerate Kirin Corp, which completed a full takeover of the company in 2009.

Lion expanded into the fast-growing gin market under Mr Irvine’s watch, with the acquisition of a half-share in Four Pillars Gin in 2019.

Mr Irvine also presided over the difficult decision to shut down the historic West End brewery in South Australia and shift production of that beer to the eastern states.


10 February, 2022