September 11-15, 2017

Bacardi Names New CFO


Bacardi Limited, the largest privately-held spirits company in the world, today announces the planned retirement of Senior Vice President and Chief Financial Officer Jacques
Croisetière, 58, and the appointment of Joseph J. Schena, 54, responsible
for the Company’s global accounting, treasury, financial policies and
reporting, as well as budgeting and forecasting.
As Senior Vice President and CFO, Mr. Schena will also serve as a member of
the Bacardi Leadership Team and report to Bacardi Limited President and
Chief Executive Officer Ed Shirley. In addition, Mr. Schena will be
appointed President and CEO of Bacardi International Limited. He will join
the Company on December 3 and will be based in the global headquarters in
Hamilton, Bermuda; pending approval by the Bermuda Department of
“Joe is a seasoned business leader with global financial expertise. His
commitment to growing revenue, along with his analytical mindset and a
passion for leading teams, will further strengthen our organization and
build upon the growth plans for our iconic brands and businesses throughout
the world,” said Ed Shirley, President and CEO.
Mr. Schena most recently served as Partner for private equity firm
Centerview Capital, focusing on the financial operations of the firm’s
portfolio companies since 2007. He is currently Chairman of portfolio
company Richelieu Foods. He is a veteran of Gillette where from 2005-2007
he was Chief Financial Officer for the Gillette global business unit of
Procter & Gamble responsible for Gillette’s business results, as well as
integrating the financial operations of Gillette and P&G. Mr. Schena was
formerly the Chief Accounting Officer, Corporate Controller and Vice
President Global Financial Operations for Gillette before the company’s
merger with P&G in October 2005. Prior to Gillette, he was Corporate Vice
President of Strategy and Planning at Nabisco. Before joining Nabisco, Mr.
Schena spent 18 years with Kraft General Foods where he held a variety of
positions of increasing responsibility including Chief Financial Officer of
the Breakfast Business Unit. He also worked for News Corporation as
Controller of the News America business unit with responsibility for
planning, business analysis and accounting.
“I’m thrilled to join a fascinating company with such an amazing 150-year
heritage,” said Joe Schena. “I look forward to growing the business and
generating results as I believe strong analytical rigor, financial
discipline and solid investments can have an immediate impact on the
organization. I look at the finance department as the glue that brings all
the other functions together to help a dynamic company like Bacardi
As part of his planned retirement, Mr. Croisetière will continue with the
Company through the end of the calendar year to ensure a smooth transition.
He has been with Bacardi since 2009 serving as the head of the global
Finance team. Mr. Croisetière’s nearly 40-year career has spanned
manufacturing, commercial, financial and strategy roles in automotive,
chemicals and consumer goods industries based out of Bermuda, the United
States, Europe and Canada. Prior to joining Bacardi, he served as Chief
Financial Officer of Rohm and Haas where he was one of the key architects
in the company’s purchase by The Dow Chemical Company. During his 10-year
tenure at Rohm and Haas, he held a variety of positions of increasing
responsibility including Vice President and European Region Director and
Global Business Director of Ion Exchange Resins based in France. He also
worked for Morton International, Inc., Sara Lee Corporation, and the Bank
of Montreal in a variety of finance-related positions.
“Under Jacques leadership, Bacardi Limited strengthened its corporate and
financial governance practices, he was also a key influencer, setting up
significant platforms and programs to move the Company forward,” added Mr.
Shirley. “We thank Jacques for his dedication to the Company and wish him
all the best in his retirement.”
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