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Cott Corporation (COT) Appoints Interim Chief Executive

Cott Corporation (NYSE:COT; TSX:BCB), the world’s largest provider of retailer brand soft drinks, announced that they have named David Gibbons as their interim chief executive officer. He will take the position effective immediately. David Gibbons was the former President and CEO of Perrigo Company.

Gibbons states, “Cott is a terrific company with great people and retail partnerships much like the companies I’ve worked with during my career. The Board has asked me to stay committed to the Company’s existing strategy, which calls for continued focus on our core retailer-branded CSD business while pursuing new products and channels that reflect the changing consumer landscape.”

He continued, “Over the past two years we’ve streamlined our manufacturing operations and invested in noncarbonated beverages. I plan to continue those programs while redoubling our efforts to ensure the success of our retail partners in maximizing the profitability of their beverage category sales.”

“Dave is a very seasoned business leader. His knowledge of private label and relationships with our customers will be invaluable. The internal challenges that we have experienced in no way negate our strategy, our industry position, or our potential for growth and success,” Chairman Frank Weise commented.

Cott is still seeking a permanent CEO.

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