By Andy Young
Bacardi Limited has announced that Mahesh Madhavan will replace current CEO Michael Dolan when he retires from the company on 1 April 2018.
Madhavan, who has been with the family-owned company for 20 years, is currently a member of the Company’s Global Leadership Team and Regional President of Asia, Middle East & Africa.
Facundo Bacardi, Chairman of the Board of Bacardi Limited, said: “On behalf of the Board, we are delighted to name Mahesh as the next CEO of Bacardi Limited. For almost three years, the Board has conducted a rigorous succession planning process to ensure an orderly transition of leadership.
He added: “As a long-time Bacardi executive, Mahesh has the ideal mix of leadership skills, commercial, operational and financial expertise, and global brands experience. Importantly, he fully embraces our culture, history, and values, and he is an exemplary leader of people.”
Madhavan was understandably delighted with his promotion to CEO, calling it an “extraordinary honour”.
He said: ““It is an extraordinary honour to be selected as the next CEO of Bacardi Limited. I know I speak for so many of my colleagues when I say that it is a privilege to work for a family-owned company with such a storied history that has thrived through many generations. Our strong culture is built on the spirit of entrepreneurship and working together as one team, with a focus on equity and fairness.
“We have many exciting opportunities ahead of us, and we are in the ideal position to capitalise on global spirits trends with iconic brands in the premium and ultra-premium segments.”
Dolan has worked with Bacardi since 2009, when he joined the Board of Directors, and has served as CEO since 2014. He will continue as CEO until 1 April 2018 and will continue to serve on the Bacardi Limited Board of Directors until the 2019 Annual General Meeting, when he will retire from the company.