Dolan will continue as CEO, while Madhavan will transition to a new role as regional president of Europe for much of 2017. Dolan will continue to serve on the Bacardi Limited board of directors until the 2019 AGM, when he will retire from the company.
Facundo Bacardi, chairman of the board of Bacardi Limited, said, “For almost three years, the board has conducted a rigorous succession planning process to ensure an orderly transition of leadership. With a proud history that dates back 155 years, it is critical to us to advance our goals as a company in a manner consistent with our culture.
“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.
“We have great confidence in Mahesh and his vision to lead Bacardi well into the future, providing continuity of leadership to build on our success during Mike’s tenure and capitalize on the momentum of our brands and the tremendous global opportunity in both developed and emerging markets.”
Madhavan currently leads the company’s Asia, Middle East & Africa operations, where he has been charged with building stronger connections between the Bacardi brands and consumers in those fast-growing regions.
The company says during his tenure, he has held leading roles within various emerging markets including managing director of India, managing director for Thailand and the Philippines, and managing director of South Asia and Southeast Asia.
He has also led the company’s emerging market council. Madhavan will immediately assume the role of regional president of Europe, BMBV, and will be based in Geneva until he assumes the CEO role, at which time he is expected to move to the company’s global headquarters in Bermuda, subject to immigration approvals.
The company also announced that, as part of the leadership succession plan, Paolo Perego, currently regional president of Europe, BMBV, will depart to pursue other opportunities. Alex Ouziel, a seven-year veteran of Bacardi and currently VP & managing director of Eastern Europe, has been promoted to regional president of Asia, Middle East & Africa, based in Dubai, succeeding Madhavan.
Ouziel will also join the global leadership team. Oksana Pevtsova, a 10-year veteran of the company, has been promoted to VP & managing director of Eastern Europe, based in Moscow, replacing Ouziel.