Bacardi Promote Jon Grey, Mahesh Madhavan

June 29, 2014

Bacardi Limited announced the internal appointments of two new regional presidents.

Effective immediately, Jon Grey, 52, assumes responsibility for leading all commercial operations in the Asia Pacific [APAC] region, while Mahesh Madhavan, 51, leads the commercial operations for the Middle East & Africa [MEA] region for the Company’s portfolio of premium spirits.

“These internal appointments showcase the seasoned leadership currently within Bacardi and further demonstrate the Company’s ability to nurture and grow talented leaders,” said Michael J. Dolan, Interim CEO of family-owned Bacardi Limited. “These two emerging businesses are critical to the continued growth of Bacardi. I have full confidence in the ability and expertise of Jon and Mahesh to continue to drive our business and the premiumization of spirits in these markets.”

Mr. Grey succeeds Siddik Tetík, who recently announced his decision to leave Bacardi Limited. Mr. Tetík will take on special projects over the next several months in order to help with a smooth transition. Mr. Madhavan replaces Mr. Grey in his capacity as Regional President for MEA.

Jon Grey – Asia Pacific Regional President

With Bacardi since 2005, Mr. Grey previously was regional president for the Middle East & Africa region – a position he has held since 2011. For the past nine years, he has also served as senior vice president of Global Operations responsible for production of all Bacardi products, global supply chain, procurement and R&D activities. Under Mr. Grey’s leadership, Bacardi was certified to be operating in accordance with the world’s most recognized management standards for quality, environment, and health and safety. Bacardi is the only major spirits company to achieve certification under ISO 9001, ISO 14001 and OHSAS 18001 for all its production facilities globally, putting it among an elite group of the world’s best run companies. Mr. Grey will be based in Hong Kong, pending Immigration Department approvals.

Mahesh Madhavan – Middle East & Africa Regional President

An 18-year veteran of Bacardi, Mr. Madhavan was managing director of MEA charged with further connecting the iconic brands in the Bacardi portfolio with consumers in the region. During his tenure with the Company, he held leading roles within various emerging markets including managing director of India, managing director for Thailand and Philippines, and managing director of South Asia and Southeast Asia. Mr. Madhavan is based in Dubai, United Arab Emirates [UAE].

As regional presidents, Mr. Grey and Mr. Madhavan will also serve as members of the Bacardi Global Leadership Team and report to Interim CEO Michael J. Dolan. The Company will begin a search for the new leader of its Global Operations group.

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