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Fortune Brands Inc. (65TI)

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Tuesday 21 August, 2007

Fortune Brands Inc.

Fortune Brands Announces Plan for Leadership Tr...

Fortune Brands Inc.
                  

Fortune Brands, Inc. (NYSE:FO):

    --  President & COO Bruce Carbonari Elected CEO Effective January 1, 2008

    --  Norm Wesley to Continue as Chairman of the Board

Fortune Brands, Inc. (NYSE:FO) today announced that Bruce Carbonari, currently
president and chief operating officer of the company, will succeed Norm Wesley
as chief executive officer effective January 1, 2008. Wesley, 57, currently
chairman and chief executive officer, will continue as chairman of the board. He
will have served as CEO for eight years at the time of the transition.
Carbonari, 51, has also been elected a member of the board effective August 21.

'This announcement today begins a smooth transition of leadership and provides
continuity for Fortune Brands,' Wesley said. 'Fortune Brands has a proud history
of developing management talent from within, and my decision and this transition
are logical steps in that process. In fact, Bruce will have served as president
and COO for the same length of time that I did before becoming CEO at the end of
1999.

'Bruce has been a big part of Fortune Brands' success over his 17 years with the
company,' Wesley continued. 'He's led our biggest brand and our biggest business
unit, generating strong growth at each. As president, he's skillfully overseen
all our company operations. Over the years, Bruce has helped us create
substantial shareholder value by driving strong organic growth, developing new
growth platforms, strategically accessing and successfully integrating
acquisitions, and improving supply chains. Bruce possesses a valuable blend of
strategic and tactical expertise and will hit the ground running as CEO.

'By continuing to serve as chairman, I will look forward to continuing to lead
major strategic initiatives, including our interest in the sale process
surrounding Absolut vodka,' Wesley added.

'I'm honored by the opportunity to succeed Norm as CEO at year end and to lead a
great team of 33,000 Fortune Brands people worldwide,' said Carbonari. 'I look
forward to building on our company's success and to maintaining our sharp focus
on creating value for shareholders. That includes a sustained commitment to the
strategy that has served Fortune Brands so well: investing to grow our leading
consumer brands, positioning our businesses for stronger growth and higher
returns, transforming operations to improve performance and cost structures, and
leveraging the company's financial strength to drive shareholder value higher.'

Sustaining Strong Leadership at Fortune Brands

Bruce Carbonari has held key leadership positions at Fortune Brands for the past
17 years. He became president of Moen Incorporated in 1990, the year it was
acquired by Fortune Brands. After serving as president and CEO of Moen,
Carbonari led Fortune Brands' Home & Hardware subsidiary from 2000 through 2006.
He was elected president and chief operating officer of Fortune Brands in
December 2006. He earned a BA in finance and accounting from Boston College and
a master's degree in management sciences from Hartford Graduate Center, an
affiliate of Rensselaer Polytechnic Institute. Carbonari currently serves as
Vice Chairman of the policy advisory board for the Joint Center for Housing
Studies at Harvard University, as well as on the board of RPM, Inc.

Norm Wesley became chairman and CEO of Fortune Brands in December of 1999, after
serving as president and chief operating officer for a year. During his tenure
as chairman and CEO, the company's annual sales have grown from $5.5 billion to
$8.8 billion, EPS before charges/gains has grown from $1.99 in 1999 to $5.30 in
2006, and the stock price has grown from $31 to more than $80. Wesley led a
portfolio realignment that established Fortune Brands as a more sharply focused
leading consumer brands company. The major strategic moves he initiated include
the acquisition in 2005 of more than 25 premium spirits and wine brands,
development of the company's distribution partnerships with Absolut vodka, and
the value-creating spin-off of the office products business.

About Fortune Brands

Fortune Brands, Inc. is a leading consumer brands company with annual sales
exceeding $8 billion. Its operating companies have premier brands and leading
market positions in spirits and wine, home and hardware products, and golf
equipment. Beam Global Spirits & Wine, Inc. is the company's spirits and wine
business. Major spirits and wine brands include Jim Beam and Maker's Mark
bourbons, Sauza tequila, Canadian Club whisky, Courvoisier cognac, DeKuyper
cordials, Starbucks(TM) liqueurs, Laphroaig single malt Scotch and Clos du Bois
and Geyser Peak wines. Home and hardware brands include Moen faucets,
Aristokraft, Omega, Diamond and Kitchen Craft cabinetry, Therma-Tru door
systems, Simonton windows, Master Lock padlocks and Waterloo tool storage sold
by units of Fortune Brands Home & Hardware LLC. Acushnet Company's golf brands
include Titleist, Cobra and FootJoy. Fortune Brands, headquartered in Deerfield,
Illinois, is traded on the New York Stock Exchange under the ticker symbol FO
and is included in the S&P 500 Index, the MSCI World Index and the Ocean Tomo
300(TM) Patent Index.

To receive company news releases by e-mail, please visit www.fortunebrands.com.

Forward-Looking Statements

This press release contains statements relating to future results, which are
forward-looking statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Readers are cautioned that these forward-looking
statements speak only as of the date hereof, and the company does not assume any
obligation to update, amend or clarify them to reflect events, new information
or circumstances occurring after the date of this release. Actual results may
differ materially from those projected as a result of certain risks and
uncertainties, including but not limited to: competitive market pressures
(including pricing pressures); consolidation of trade customers; successful
development of new products and processes; ability to secure and maintain rights
to intellectual property; risks pertaining to strategic acquisitions and joint
ventures, including the potential financial effects and performance of such
acquisitions or joint ventures, and integration of acquisitions and the related
confirmation or remediation of internal controls over financial reporting;
changes related to the potential privatization of V&S Group; ability to attract
and retain qualified personnel; general economic conditions, including the U.S.
housing market; weather; risks associated with doing business outside the United
States, including currency exchange rate risks; interest rate fluctuations;
commodity and energy price volatility; costs of certain employee and retiree
benefits and returns on pension assets; dependence on performance of
distributors and other marketing arrangements; the impact of excise tax
increases on distilled spirits and wines; changes in golf equipment regulatory
standards and other regulatory developments; potential liabilities, costs and
uncertainties of litigation; impairment in the carrying value of goodwill or
other acquired intangibles; historical consolidated financial statements that
may not be indicative of future conditions and results due to the recent
portfolio realignment; any possible downgrades of the company's credit ratings;
as well as other risks and uncertainties detailed from time to time in the
company's Securities and Exchange Commission filings.

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CONTACT: Fortune Brands, Inc.
         Media Relations:
         Clarkson Hine, 847-484-4415
         or
         Investor Relations:
         Tony Diaz, 847-484-4410
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