01—Abstract
Summary
Summary of the 8-K filed October 8, 2024. Cited figures are marked; the original filing is the authoritative source.
On October 8, 2024, Constellation Brands, Inc. filed a Current Report on Form 8-K under Item 7.01 (Regulation FD Disclosure) and Item 8.01 (Other Events) to announce the appointment of E.
Yuri Hermida, age 51, as Executive Vice President, Chief Growth and Strategy Officer. The company furnished a news release as Exhibit 99.1 detailing the appointment. The filing contains no financial results or quantitative financial data.
In the new role, Hermida will oversee Consumer Insights & Innovation, Digital, Transformation, Media, New Business Ventures, and Strategy & Analytics. He will report directly to Bill Newlands, President and Chief Executive Officer, and will sit on the executive management committee. The release describes his background at Sovos Brands, where he was Chief Growth Officer and later President, and at Reckitt, as well as earlier roles at The Procter & Gamble Company.
Hermida succeeds Mallika Monteiro, who previously led the Growth Organization and more recently took on additional responsibilities as Executive Vice President and Managing Director for the company's beer brand portfolio. Monteiro will continue to report to Newlands and remain on the executive management committee. For investors, the filing signals a leadership change focused on growth, digital, and strategy, while beer portfolio oversight remains with Monteiro.
02—Key points
Key Highlights
- E. Yuri Hermida, age 51, appointed Executive Vice President, Chief Growth and Strategy Officer, effective with the October 8, 2024 announcement.
- Hermida's remit includes Consumer Insights & Innovation, Digital, Transformation, Media, New Business Ventures, and Strategy & Analytics.
- Hermida reports directly to CEO Bill Newlands and will serve on the executive management committee.
- Hermida previously served as President and Chief Growth Officer at Sovos Brands and spent four years at Reckitt.
- Hermida succeeds Mallika Monteiro, who previously led the Growth Organization.
- Monteiro continues as Executive Vice President and Managing Director for the beer brand portfolio, reporting to Newlands.
- The filing contains no financial results or quantitative financial metrics.
03—Questions
Frequently Asked Questions
Who was appointed in this 8-K filing?
E. Yuri Hermida, age 51, was appointed Executive Vice President, Chief Growth and Strategy Officer of Constellation Brands, Inc., as announced on October 8, 2024.
What responsibilities will the new officer hold?
Hermida will be responsible for Consumer Insights & Innovation, Digital, Transformation, Media, New Business Ventures, and Strategy & Analytics, reporting directly to CEO Bill Newlands.
What happened to the prior leader of the growth function?
Mallika Monteiro, who previously led the Growth Organization, now serves as Executive Vice President and Managing Director for the company's beer brand portfolio and continues to report to Newlands.
Does this filing report financial results?
No. The filing is a Regulation FD disclosure and other-events notice about an executive appointment, and it contains no financial results or quantitative financial data.
What is Hermida's relevant background?
The release states he was President and Chief Growth Officer at Sovos Brands, spent four years at Reckitt in Europe and North America, and began his career in brand management at The Procter & Gamble Company.
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