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Foster’s uncorks fresh structure
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Simon Evans reported in The Australian Financial Review on 11 August 2005 that the Foster’s Group has finalised the top five layers of management of its newly merged $2.6 billion global wine business, with Foster’s global wine managing director, Jamie Odell briefing 400 executives on a new strategy during a gathering in California last week.
Foster’s has also largely disbanded a 25-member specialist integration team set up in late May after it secured full ownership of Southcorp following a $3.2 billion takeover.
In a separate meeting, 75 winemakers from across the new Foster’s Wine Estates operations in Australia and New Zealand met on 10 August in Melbourne on the first day of a two-day conference to reinforce the company wide push.
The 400 executives were told Foster’s would be taking a more global approach to its wine business, with more cross-fertilisation of marketing and product development and a global approach to pruning supply chain costs.
New management teams are now in place in the Foster’s Wine Estates North American business, and the Europe and UK divisions.