Foster's Group CEO John Pollaers has announced that he will step down from his current position on December 16, following SABMiller's successful acquisition of the company.
Foster’s Group chairman, David Crawford, said: “John’s strategy realised significant benefits and put the company in a strong position to realise significant shareholder value.”
To ensure a smooth transition, Foster's said Pollaers would be available to provide advice to SABMiller during the first few months of 2012.
Pollaers said “Being CEO of Foster’s and Managing Director of CUB have been the highlights of my career. I am excited and looking forward to new challenges.
“The past two years have seen big changes within the business and I am proud to have led the company through this period," he added.
“The demerger of the wine business, a significant restructure, and the relaunch of the iconic CUB brand have allowed this business to believe in itself again and succeed," Pollaers said.