Bill Newlands (left) and Rob Sands.
Constellation Brands CEO Rob Sands will step down from his role in March 2019 after 12 years at the helm, to be replaced by current chief operating officer Bill Newlands.
During Sands’ tenure as chief executive, the firm has acquired Grupo Modelo’s US beer business from AB InBev and more recently invested in cannabis firm Canopy Growth Corporation.
Effective 1 March 2019, Rob Sands will assume the role of executive chair. Richard Sands, who is currently serving in the role of executive chair, will become executive vice chair.
Newlands joined Constellation Brands in 2015 as executive vice president and chief growth officer. In 2016, he assumed additional responsibilities as president of the company’s wine and spirits division.
In 2017, he became the company’s COO, and assumed the role of president in early 2018. Prior to joining Constellation Brands, Newlands held several senior leadership roles in the beverage alcohol industry spanning more than 30 years.
Rob Sands said: “Since joining Constellation Brands in 2015, Bill has made a significant impact on our company, finding ways to leverage our unique capabilities as a leading total beverage alcohol provider to meet consumers’ evolving needs and accelerate growth. Bill understands what it takes to succeed in this rapidly evolving market and he’s the right person to lead our company going forward.”
Richard Sands said: “Bill has a deep understanding and appreciation for the values that have made Constellation Brands one of the top performing S&P 500 companies. I look forward to the continued success of our company under Bill’s leadership.”
Bill Newlands added: “I am honoured to be selected as Constellation Brands’ next CEO. I have a tremendous amount of respect and admiration for the leadership Rob, Richard and Marvin Sands provided over the years.
“I look forward to working with Rob, Richard, our board of directors, and the Constellation Brands team to ensure we continue building on the momentum our company has gained in the marketplace for many years to come.”
The company said that Newlands will work with Rob Sands over the coming months to ensure a smooth leadership transition.
© FoodBev Media Ltd 2020
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