I became an honorary Gin Rectifier last night (May 9). I took an oath and now I am duty bound to promote the best interests of gin.
In connection with the anticipated completion of the plan, Bruce Carbonari, chairman and chief executive officer of Fortune Brands, has decided to retire from the company at the end of the year.
Matt Shattock will be CEO of Beam and Fortune Brands hopes to complete the separation plan early in the fourth quarter.
David Mackay, a current director of Fortune Brands and the former chief executive officer of Kellogg Company, will serve as non-executive chairman of the board of Beam, the new name for Fortune Brands. Mackay has been a director of Fortune Brands since 2006.
Carbonari said: “I see the anticipated separation of our businesses as a monumental achievement for our leadership team and the perfect time personally to move on to new challenges.
“These two companies will have strong leadership, governance and continuity, and I’ll look forward to participating in their future success as a proud and confident shareholder. Once we complete the separation plan, I’ll play an advisory role for a brief transition period, and then I’ll be eager to take some time before determining the next phase in my career.”
The members of the Beam board will be:
• David Mackay (non-executive chairman), former chief executive officer, Kellogg Company; current Fortune Brands director
• Richard Goldstein, former chairman & chief executive officer, International Flavors and Fragrances, Inc.; current Fortune Brands director
• Ann Fritz Hackett, president, Horizon Consulting Group; current Fortune Brands director
• Pierre Leroy, former president, Worldwide Construction & Forestry Division and Global Parts Division, Deere & Company; current Fortune Brands director
• Matt Shattock, president & chief executive officer, Beam Inc.
• Anne Tatlock, former chairman & chief executive officer, Fiduciary Trust Company International; current Fortune Brands director
• Peter Wilson, former chairman, Gallaher Group Plc; current Fortune Brands director