Beverage Industry

Bacardi Limited appoints new chief financial officer

October 29, 2012

Bacardi Limited, Hamilton, Bermuda, announced the planned retirement of Senior Vice President and Chief Financial Officer Jacques Croisetière. Effective Dec. 3, he will be replaced by Joseph J. Schena, who will be responsible for the company’s global accounting, treasury, financial policies and reporting, as well as budgeting and forecasting. As senior vice president and chief financial officer, Schena also will serve as a member of the Bacardi Leadership Team and will report to Bacardi Limited President and Chief Executive Officer Ed Shirley. In addition, Schena will be appointed president and chief executive officer of Bacardi International Limited. He will be based at the company’s global headquarters in Hamilton, Bermuda, pending approval by the Bermuda Department of Immigration.

“[Schena] is a seasoned business leader with global financial expertise,” Shirley said in a statement. “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.”

Most recently, Schena served as partner for private equity firm Centerview Capital, focusing on the financial operations of the firm’s portfolio companies since 2007. He currently is chairman of portfolio company Richelieu Foods.

“I’m thrilled to join a fascinating company with such an amazing 150-year heritage,” Schena said in a statement. “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 succeed.”

As part of his planned retirement, Croisetière will continue with the company through the end of the calendar year to ensure a smooth transition. He has worked for Bacardi since 2009, serving as the head of the global finance team. Croisetière’s nearly 40-year career has spanned manufacturing, commercial, financial and strategy roles in automotive, chemical and consumer goods industries based out of Bermuda, the United States, Europe and Canada.

“Under [Croisetière’s] leadership, Bacardi Limited strengthened its corporate and financial governance practices,” Shirley said in a statement. “He was also a key influencer, setting up significant platforms and programs to move the company forward. We thank [Croisetière] for his dedication to the company and wish him all the best in his retirement.”