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Patricia Neal
(305) 446-9050
Amy Federman, Burson-Marsteller,(305) 446-9050
for Bacardi Limited,
(305) 347-4343
amy.federman@bm.com
BACARDI LIMITED ELECTS NEW DIRECTORS TO BOARD
Bacardi further strengthens corporate governance
September 13, 2006, Hamilton, BermudaBacardi further strengthens corporate governance
Facundo L. Bacardi, Chairman of the Board of Directors of Bacardi Limited, today announced three new directors have been elected to serve on the Company's Board of Directors.
"These highly accomplished individuals bring vast experience in the consumer products industry to Bacardi's Board of Directors. They are distinguished business leaders who offer unique insights into premium brands," said Mr. Bacardi. "The appointments also demonstrate the Company's continued strong commitment to good corporate governance."
The newly elected directors are Robert Corti, Philip Shearer and Toten Comas.
Robert Corti is currently Chairman of the Board of the Avon Products Foundation and served as Avon Products Inc.'s Executive Vice President and Chief Financial Officer from 1998 until he retired as Chief Financial Officer in November 2005 and as Executive Vice President in March 2006. With more than 25 years of experience with Avon Products, Inc., Mr. Corti joined Avon's tax department as a tax associate in 1976 and held progressive financial leadership positions throughout his tenure at the Company. Mr. Corti is a member of the Board of Directors and Chairman of the Audit Committee of Activision, Inc., an international publisher of interactive entertainment software. He also serves as a member of the Board of the Queens College Foundation and the Valtarese Foundation.
Philip Shearer is currently Group President, The Estée Lauder Companies Inc. He is responsible for Clinique and Origins on a global basis and leads the Company's online activities, including the Gloss.com joint venture with Chanel and Clarins. In January 2005, his responsibilities expanded to include the Company's prestige hair care business. Mr. Shearer joined The Estée Lauder Companies in September 2001 as Group President, International. Mr. Shearer has also held various senior level positions at L'Oréal and the Elizabeth Arden division of Eli Lilly. Mr. Shearer was Chairman of the Board of The Fragrance Foundation from 1998 to 2001. Toten Comas served on the Board of Directors of Bacardi Limited as an Alternate Director from 2000 - 2002.
Mr. Comas is President of Propiedades Coba, S.A., a commercial real estate development firm, located in Malaga, Spain, and prior to this, served as General Manager of Inversiones Capricornia S.A., a chain of quick service restaurants in Malaga. From 1977 - 1988, Mr Comas worked in Spain as General Manager for Tecnica Internacional de Servicio, S.A., a quality control subsidiary of Bacardi & Co. of Nassau, Bahamas, and also as Director of Quality Control for Bacardi España and the European Bacardi Bottlers. Mr. Comas joined Bacardi & Co. in 1969 as a Bacardi Rum Blender in Nassau and continued that position until 1977.
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About Bacardi Limited
Bacardi Limited is the largest privately held spirits company in the world and produces and markets a variety of internationally recognized spirits. Bacardi Limited's brand portfolio consists of more than 200 brands and labels, including: BACARDI rum, the world's number-one selling rum; GREY GOOSE vodka, the world-leader in super-premium vodka; DEWAR'S Scotch whisky, the number-one selling blended Scotch whisky in the United States; BOMBAY SAPPHIRE gin, the fastest-growing gin in the spirits industry; CAZADORES blue agave tequila, one of the top-selling 100 percent blue agave tequilas worldwide; MARTINI vermouth, the world-leader in vermouth; and other leading brands. For more information, please visit www.BacardiLimited.com.
