Quilmes Industrial (Quinsa) S.A. Announces that Joao Castro Neves Will Succeed Agustin Garcia Mansilla as Chief Executive Office
September 15 2006 - 9:59AM
PR Newswire (US)
LUXEMBOURG, Sept. 15 /PRNewswire-FirstCall/ -- Quilmes Industrial
(Quinsa) S.A. (NYSE:LQU) ("Quinsa" or the "Company") today
announced that Joao Castro Neves will succeed Mr. Garcia Mansilla
as Chief Executive Officer of Quinsa. Mr. Garcia Mansilla decided
to step down from his position with effect from December 31, 2006.
Joao Castro Neves is currently the Chief Financial Officer of
Companhia de Bebidas das Americas - AmBev and a board member of
Quinsa. Commenting on his decision, Mr. Garcia Mansilla said:
"These past years at Quinsa have been very intense. We have
achieved all of the goals we had set ourselves, including the
successful association of Quinsa and AmBev and the full integration
of their operations. It has been a very exciting period of my life,
but also a very demanding one. I believe it is now time to pursue
other challenges. I am however fully committed to ensure the
achievement of our targets for the year ended December 31, 2006."
Messrs. Jacques-Louis Montalembert and Victorio Carlos de Marchi,
Co- Chairmen of Quinsa's Board of Directors, had the following
comments: "On behalf of Quinsa's Board of Directors, we would like
to thank Mr. Garcia Mansilla for his remarkable contribution to
Quinsa throughout his tenure and wish him success in his new
ventures." Commenting on his appointment, Joao Castro Neves said:
"This is a very exciting opportunity and I look forward to working
with the management team of Quinsa. Agustin and I are also working
together to ensure a smooth transition." ABOUT QUINSA Quinsa is a
Luxembourg-based holding company that controls approximately 93% of
Quilmes International (Bermuda) ("QIB"). The remaining stake is
held by Companhia de Bebidas das Americas - AmBev ("AmBev").
Quinsa, through QIB, controls beverage and malting businesses in
five Latin American countries. Its beer brands are strong market
leaders in Argentina, Bolivia, Paraguay and Uruguay, and have a
presence in Chile. Further, pursuant to the Company's strategic
alliance with AmBev, it has entered into license and distribution
agreements to produce and sell in Argentina, Bolivia, Chile,
Paraguay and Uruguay the AmBev brands. Similarly, under the
agreements, AmBev may produce and distribute Quinsa's brands in
Brazil. The Company also has bottling and franchise agreements with
PepsiCo, and thus accounts for 100% of PepsiCo beverage sales in
both Argentina and Uruguay. Quinsa's Class A and Class B shares are
listed on the Luxembourg Stock Exchange (Reuters codes: QUIN.LU and
QUINp.LU). Quinsa's American Depositary Shares, representing the
Company's B shares, are listed on the New York Stock Exchange
(NYSE:LQU). Quinsa's web address: http://www.quinsa.com/ Francis
Cressall Quilmes Industrial (Quinsa) S.A. +5411-4349-1846
DATASOURCE: Quilmes Industrial (Quinsa) S.A. CONTACT: Francis
Cressall, Quilmes Industrial (Quinsa) S.A., +011-54-11-4349-1846
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