Whyte and Mackay Appoint New Chief Executive

[John]

Although recent reportshave suggested that United Spirits have been looking to offload Whyte and Mackay they have just appointed a new chief executive and he says he is confident of support from the companies Indian owner.

The new boss of Whyte and Mackay (W&M) said yesterday the whisky maker's owner was committed to the company despite speculation it was to be sold.

John Beard was speaking as Glasgow-based W&M unveiled him as chief executive to replace Ashwin Malik.

Mr Beard, 46, joined the firm on Monday after 19 years working at Bacardi and associated companies.

He worked in a variety of sales, marketing and general management roles at Bacardi, including UK sales director, before taking on the job of regional director for eastern Europe and responsibility for its travel retail business.

For the past three years he has been employed in the UK as chief executive of distribution partnership Bacardi Brown-Forman.

Mr Malik is returning to Asia after nearly two years helping to build W&M following its acquisition in 2007 by Indian entrepreneur Vijay Mallya and his United Spirits group.

W&M made pre-tax profits of £25.58million during the 18 months to March 31, 2008, compared with losses of £2.19million in the previous year, according to the firm's last reported results.

Mr Beard said: "I have been really impressed with Whyte and Mackay's performance and its commitment to building not only strong brands, but strong international brands.

"I have met Dr Mallya personally and there is no doubt in my mind that he is committed to this company, committed to building great premium brands and committed to making Whyte and Mackay a major international spirit company. I am looking forward to doing my bit to help that become a reality."?

A report earlier this month claimed that W&M was to be sold by its parent.

The company was expected to fetch just £200million, compared with the £595million paid by United in May 2007.

United had said in February it was pushing ahead with plans to sell 49% of W&M as part of discussions over the disposal of a 15% stake in the entire group to UK-based drink giant Diageo.

Media reports at the time said United would use proceeds from the group stake sale to reduce debt of about £835million from its purchase of W&M, which produces and markets a range of whisky and vodka brands.

W&M's products include Whyte and Mackay blended whisky, The Dalmore and Jura malts, Glayva liqueur and vodka brands Vladivar and Pinky.

John

Source: Aberdeen Press & Journal