TORONTO, March 15 /CNW/ - Cott Corporation (NYSE: COT; TSX:BCB), the
world's largest retailer brand soft drink provider, announced today the
appointment of David T. Gibbons to its Board of Directors.
Mr. Gibbons is an international business executive with both Board level
and CEO experience. He is currently the Chairman of the Perrigo Company, a
publicly traded manufacturer of retailer brand over-the-counter pharmaceutical
and nutritional products. Over the past seven years, he has held the positions
of President, Chief Executive Officer and Executive Chairman of that company.
Prior to joining Perrigo, Mr. Gibbons held positions as President of
Europe and President of Home Products for Rubbermaid Inc. He also spent nearly
30 years with the 3M Company, rising to the position of General Manager before
transitioning to Rubbermaid.
"I'm honored to be joining Cott's Board of Directors at a time when the
Company is undergoing significant change, both in its core business and
through expansion to new products, channels and markets," commented Gibbons.
"My fellow Board members each have impressive backgrounds and I look forward
to working with them and the management team to reposition the Company for
"The appointment of Dave to our Board further expands the depth and
breadth of experience that we have added with new Board appointments in the
past year," said Frank Weise, Chairman of Cott's Board of Directors. "It's
hard to find someone with David's combination of experience in a retailer
brand environment, in leading turnarounds and in managing international
businesses. We're very pleased that he will be bringing that experience to
"I look forward to benefiting from Dave's broad experience and insight as
we continue to implement our strategy of reducing costs, strengthening our
customer relationships and driving innovation," added Brent Willis, Chief
Executive Officer of Cott.
In addition, Cott announced that two of the Company's current Board
members will not stand for re-election at the Company's annual meeting in
Colin Adair was one of Cott's first Board members when the Company went
public in 1986. He made important contributions to Cott' explosive growth
under the founder Gerry Pencer and has served on the Board for 21 years.
John Bennett joined the Board in 1998 and provided valuable counsel and
support to the management team during a period of restructuring, change in
controlling shareowner, and the divestiture of several non-core businesses.
His financial knowledge and expertise have been great assets to the Board's
Audit Committee for many years. Both members are stepping down to devote more
time to their professional commitments.
"I want to thank Colin and John for their commitment and significant
contributions to the Board and to Cott," commented Weise. "They have been
valuable colleagues and have helped guide the Company through many periods of
challenge and growth. They will certainly be missed by their fellow Board
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 provider. 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 including Cott, RC, Vintage, Vess and So Clear. 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. The brand names referenced in this press release are trademarks
of Cott Corporation, its affiliated companies, our customers, or other third
Safe Harbor Statements
This press release contains forward-looking statements reflecting
management's current expectations regarding future results of operations,
economic performance, financial condition and achievements of the Company.
The forward-looking statements are based on the assumption that volume and
revenue will be consistent with historical trends, that margins will improve
through a balance of revenue realization and cost containment, and that
interest rates will remain constant and debt levels will decline. Management
believes these assumptions to be reasonable but there is no assurance that
they will prove to be accurate. Forward-looking statements, specifically
those concerning future performance such as those relating to the success of
the Company's measures to increase volume and revenue, reduce costs and
increase operating income, are subject to certain risks and uncertainties, and
actual results may differ materially. These risks and uncertainties are
detailed from time to time in the Company's filings with the appropriate
securities commissions, and include, without limitation, stability of
procurement costs for raw and packaging materials, the Company's ability to
restore plant efficiencies and reduce logistics and other costs, adverse
weather conditions, competitive activities by other branded beverage
manufacturers, the Company's ability to develop new products that appeal to
consumer tastes, the Company's ability to identify acquisition candidates,
successfully consummate acquisitions and integrate acquired businesses into
its operations, fluctuations in currency versus the U.S. dollar, the
uncertainties of litigation and regulatory review, loss of key customers and
retailers' continued commitment to their Company-supplied beverage programs.
The foregoing list of factors is not exhaustive. The Company undertakes no
obligation to publicly update or revise any forward-looking statements.
For further information:
For further information: COTT CONTACTS: Media Relations: Kerry Morgan,
Tel: (416) 203-5613; Investor Relations: Edmund O'Keeffe, Tel: (416) 203-5617