TORONTO and TAMPA, FL--(February 17, 2009) - The Board of Directors of Cott Corporation (
"Jerry is the right person to lead Cott through the completion of our refocus plan and into the future," commented David Gibbons, Chairman of the Board of Directors. "He has a proven track record of success in turnaround situations over his 30 years of consumer packaged goods and beverage experience, and a clear vision of how to leverage Cott's strengths for a positive future," added Gibbons. "The Board's confidence in Jerry is based on his demonstrated leadership and contributions to our North American business where we continue to make excellent progress focusing on our private label business opportunities and in strengthening our position with core retailer partners."
Mr. Fowden joined Cott in 2007 to lead Cott's UK business. In April of 2008, Fowden was appointed President of International, and in June of 2008 he was asked by David Gibbons to assist in rebuilding relationships with Cott's customers in the U.S., while also taking on leadership of the Canadian business.
Prior to joining Cott, Fowden was CEO of Trader Media Group (TMG), a subsidiary of Guardian Media Group PLC in the UK. In this role, he led the successful transition from a print-based media business to the most successful online classified media business in Europe. Fowden's beverage industry experience includes leadership in soft drink and beer companies around the globe. At AB-Inbev (Formerly InBev), Fowden served in various positions including Global COO, CEO of Bass Brewers, and President of the European division. Prior to AB-Inbev, Fowden successfully led the turnaround of the Hero Group AG private label soft drinks business in the UK. Earlier in this career, Fowden worked in sales and marketing leadership positions at Mars Corporation and Pepsico.
"I see a strong and growing role for private label in the carbonated soft drinks category now and into the future. A well-run private label program enhances retailer category profitability and significantly increases customer loyalty for retailers," commented Fowden. "Cott has the privilege of partnering with the best retailers in the world to provide greater choice and enhanced value to consumers who are looking to stretch their shopping dollars. Our people are capable and energetic. We will maintain our high levels of product quality and customer service while we focus on improving cash flow by controlling costs and optimizing capital expenditures," added Fowden.
"On behalf of the global Cott team, I'd like to thank Dave Gibbons for his leadership over the past ten months. He will remain an active Chairman and trusted advisor as we continue to refocus our business and optimize our cost structure," continued Fowden.
About Cott Corporation
Cott Corporation is one of the world's largest non-alcoholic beverage companies and the world's largest retailer brand soft drink company. The Company commercializes its business in over 60 countries worldwide, with its principal markets being the United States, Canada, the United Kingdom and Mexico. Cott markets or supplies over 200 retailer and licensed brands, and Company-owned brands. Its products include carbonated soft drinks, sparkling and flavored waters, energy drinks, sports drinks, juices, juice drinks and smoothies, ready-to-drink teas, and other non-carbonated beverages. The Company's website is www.cott.com.
Safe Harbor Statements
This press release contains forward-looking statements conveying management's expectations as to the future based on plans, estimates and projections at the time the Company makes the statements. Forward-looking statements involve inherent risks and uncertainties and the Company cautions you that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statement.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Readers are urged to carefully review and consider the various disclosures, including but not limited to risk factors, contained in the Company's Annual Report on Form 10-K for the year ended December 29, 2007 and its quarterly reports on Form 10-Q, as well as other periodic reports filed with the securities commissions. The Company does not undertake to publicly update or revise any of these statements in light of new information or future events.