Roustam Tariko Central to CEDC and Russian Standard Plans to Deepen Strategic Alliance
09/14/2012 – Central European Distribution Corporation (NASDAQ: CEDC) announced today that it will appoint Mr. Roustam Tariko, the founder of Russian Standard vodka as the Chairman of the CEDC Board of Directors. CEDC intends for this appointment to deepen the strategic alliance between CEDC and Russian Standard Corporation (Russian Standard). Russian Standard holds significant financial interest in CEDC.
CEDC says that Mr. Tariko will also be appointed to serve as its Interim President as soon as practicable but in any event upon the filing by CEDC of its restated financial statements with the United States Securities and Exchange Commission.
Once appointed Interim President, Mr. Tariko will serve on a temporary basis until the earlier of the appointment of a permanent Chief Executive Officer of CEDC or March 31, 2013. In his role as Interim President of CEDC, Mr. Tariko will supervise CEDC's operations outside of Poland. David Bailey will continue to serve as Interim CEO of CEDC with responsibility for company-wide finance and CEDC's operations in Poland, as well as the administrative, reporting, legal, compliance and audit functions of CEDC.
Mr. Tariko will continue to serve as Chairman of the CEDC Board of Directors. However, in light of Mr. Tariko's increased responsibilities at CEDC, the CEDC Board of Directors is amending the by-laws to provide for an increased role for the lead director also as Vice Chairman of the CEDC Board of Directors. Accordingly, Scott Fine will continue to serve as lead director and, upon the appointment of Mr. Tariko as Interim President of CEDC, Vice Chairman, of the CEDC Board of Directors.
CEDC also announced that Christopher Biedermann has resigned as CEDC's Chief Financial Officer, and Bartosz Kolacinski, the current Deputy Financial Officer of the CEDC group, has been appointed Interim Chief Financial Officer. Mr. Biedermann will remain available to CEDC to assist CEDC's finance team for a transition period.
- Lovin’ Scoopful Signs Production Agreement With Lucerne Foods Lovin' Scoopful was founded by Maria Shriver, Tim Shriver and Dan Samson in part to benefit Special Olympics.
- Chipotle Plans 50% Increase in Usage of Locally Grown Produce Chipotle works with a network of more than 70 local, family owned farms.
- Frito-Lay Unveils Investment In Compressed Natural Gas Infrastructure Frito-Lay hopes to reduce its total U.S. fuel consumption and greenhouse gas emissions by 50 percent by 2020, compared to 2007 baseline.
For Email Marketing you can trust