Independent directors and small brewer directors to be added
TORONTO, Dec. 2, 2015 /CNW/ - A new Beer Store Board of Directors is taking shape to reflect Beer Store ownership that is now available to all qualifying Ontario-based brewers, large and small.
Ultimately the new 15-member Beer Store Board of Directors will be made up of the following members:
- Four Independent Directors nominated by a selection committee jointly represented by the Province of Ontario and the current Beer Store owners;
- Two Directors nominated by larger brewers with Beer Store sales greater than 50,000 hectolitre per year such as Sleeman, Brick and Moosehead;
- A Director nominated by small Ontario-based brewers who sell less than 50,000 hectolitres per year through the Beer Store;
- Four Directors nominated by Molson;
- Four Directors nominated by Labatt.
The committee recently recommended the four Independent Directors and the Beer Store Board has confirmed the nominations. These new Directors will take their positions as of the January 1, 2016 effective date of the new Beer Store shareholder agreement agreed to by the Province and the Beer Store under the new Beer Framework Agreement.
Once new Ontario brewers sign on to become Beer Store owners – at a subscription price of $100 – they too will choose Directors for nomination to the Board.
"We welcome the addition of these four Independent Directors as we implement our new open ownership model. This change to our governance builds on our support for small brewers with increased free listings near their breweries and reduced fees at other locations," said Charlie Angelakos, Chair of the Board of Directors of the Beer Store.
The four new Independent Directors are:
- Tim Penner of Toronto, a longtime marketing executive and former President of Proctor and Gamble Canada;
- Kristine Freudenthaler of Toronto, a logistics and supply chain expert and formerly Senior Vice President of Technology at Canadian Tire;
- Robert Aziz of Oakville, a lawyer and the Executive Vice President and Chief Legal Officer of Oxford Properties;
- Tom Muir of Toronto, and finance expert and the former Chief Financial Officer of Maple Leaf Foods.
"The Beer Store and the Province agree that these Independent Directors, and Directors soon to be nominated by the new shareholders, will make a tremendous contribution to the Beer Store Board as we move forward," Angelakos said. "They will help us as we deploy $100 million in capital investments over the next four years to enhance the Beer Store experience for consumers."
The Beer Store has reached out to all qualifying Ontario-based brewers to provide information on the new Beer Store ownership opportunity and the process to become a shareholder.
About the Beer Store
The Beer Store offers customers 529 brands, provided by 118 brewers. Approximately 1-in-5 brands come from small Ontario brewers. It is a completely open system that allows any brewer in the world to sell their brands in any store they choose. The Beer Store does not set prices. Brewers set their own prices independently in a competitive environment. The Beer Store is deeply committed to responsible sale and not selling to minors and people who are intoxicated. More than 3.6 million customers were challenged in 2013 alone. It is also one of the greenest retailers in the world and collected more than 1.7 billion beer bottles in 2012-2013 (a 92 per cent return rate) and 300 million wine and spirit containers (a 80 per cent return rate). The Beer Store Employs 7,000 hard-working Ontarians with well-paying full- and part-time jobs.
SOURCE The Beer Store
For further information: Bill Walker, firstname.lastname@example.org, and 416-624-3936