Cott Corp. has replaced its chief executive officer, appointing Brent Willis, a former top executive at InBev Asia Pacific, to the job.
Effective Tuesday, Willis takes over from John Sheppard, who had been CEO for two years.
On April 20, Cott reported a first-quarter loss of $2.1 million US (3 cents a share), compared with a profit of $8.3 million US (12 cents a share) for the same period last year. The company also warned of lower annual earnings ahead as a result of restructuring charges.
"[Willis] has extensive global experience, as well as a demonstrated track record of driving improved business performance and profitability in highly competitive environments," Cott chairman Frank Weise said in a release.
Most recently, Willis was zone president at InBev Asia Pacific, the world's largest brewer by volume, with responsibility for more than 30 manufacturing facilities, 15 joint ventures and 20,000 employees. Willis has also worked at Coca-Cola Co. and Kraft Foods Inc.
Shares of Cott gained five cents to close at $17.05 on the TSX.
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