Premium spirit-maker Beam Suntory has appointed Carlo Coppola as president of its North American unit.
Coppola will report to Greg Hughes, president and CEO of Beam Suntory, and assume the new role on 29 April 2024.
He succeeds Jessica Spence, who has stepped down to explore other opportunities outside the company.
Carlo Coppola
Coppola is an experienced professional who most recently served as the president of Bean Suntory’s American whiskey and tequila business.
In this role, he oversaw the profit and loss (P&L) for the company’s bourbon brands, including Jim Beam and Maker’s Mark, and its tequila portfolio, which includes El Tesoro, Tres Generaciones and Hornitos.
Previously, Coppola served as managing director of the James B. Beam Distilling Company and as US chief commercial officer.
Commenting on the appointment, Hughes stated, “With a career spanning across US commercial, finance and global brands over the past 20-plus years, Carlo brings strong commercial acumen, in-depth customer and consumer knowledge, and deep understanding and passion for our brands and people to our largest market.”
Courvoisier Cognac
Last year, Italian spirit group Campari agreed to buy historic French cognac house Courvoisier from Beam Suntory for an initial price of $1.20 billion (€1.11 billion).
The deal, expected to close this year, envisages an additional earn-out of up to $0.12 billion, to be payable in 2029, Campari noted, adding that it would fund the acquisition via a mix of debt, cash and equity, or equity-like instruments.
Hughes said that the company would focus on its core strengths, as it looks to accelerate its own global growth ambitions.
