In a major move late yesterday, Constellation Brands announced that its current president and COO, Bill Newlands, will take over chief executive duties from Rob Sands, effective March 2019, with Sands becoming executive chairman. With the transition, Newlands will become the first Constellation CEO from outside the Sands family.
He takes the helm during a heady time for Constellation, which has seen its market value rise from $6.3 billion in 2012 to $43 billion today, following a string of acquisitions across the wine, spirits and beer businesses. Most recently, Constellation made another bold move with its $4 billion investment in Canadian cannabis producer Canopy Growth.
Shanken News Daily managing editor Daniel Marsteller caught up with Newlands to discuss his new appointment and the future of Constellation. Read the interview at Shanken News Daily.