©Reuters.
Victor, NY – Constellation Brands, Inc. (NYSE:), a prominent alcoholic beverage manufacturing and marketing company, announced the appointment of Christopher J. Baldwin as non-executive chairman of its board of directors, effective March 1. 2024. Managing partner of CVC Advisors (US) Inc. Baldwin brings extensive experience in the consumer packaged goods and retail industries to this role.
Mr. Baldwin's election to the board comes as Constellation Brands continues to adapt to the evolving beverage alcohol market for sustainable growth and shareholder returns. His career includes leadership roles at BJ's Wholesale Club Holdings Inc. (NYSE: BJ), where he served as executive chairman and CEO, and a board position with the National Retail Federation.
The company also confirmed that Susan Summersill Johnson will voluntarily resign from the board of directors, effective February 17, 2024. Johnson joined the board in July 2017, but did not resign due to disagreements with the company.
These board changes are part of a broader governance enhancement process for Constellation Brands that began following the transition from a dual-class share structure to a single-class share structure in November 2022.
Constellation Brands is known for its portfolio of beer, wine, and spirits brands, including Corona, Modelo, and The Prisoner Wine Company. The company emphasizes sustainability and social responsibility in its business practices.
The information in this article is based on the press release.
Investment Pro Insights
Constellation Brands (NYSE: STZ) has Christopher J. Baldwin on its board of directors, and the company's financial health remains an important factor for investors. With a market capitalization of $44.57 billion and a forward-looking approach, Constellation Brands is positioned as a significant player in the alcoholic beverage industry.
InvestingPro's data highlights the company's strong financial metrics with a P/E ratio of 29.62, reflecting investors' confidence in its earnings potential. The company's trailing 12-month revenue as of Q3 2024 was $9.82 billion, with a growth rate of 2.75%, indicating steady business expansion. Moreover, Constellation Brands boasts a high operating margin of 31.74%, indicating efficient management and profitability.
InvestingPro's tips suggest a variety of prospects. On the positive side, Constellation Brands has raised its dividend for his ninth consecutive year, demonstrating a commitment to returning value to shareholders. Additionally, the company is expected to be profitable this year, backed by a consistent track record of profitability over the past 12 months. On the other hand, investors may need to be cautious, as 15 analysts have revised down their profit forecasts for next year.
Investors who want to dig deeper into Constellation Brands' prospects can get additional insights on InvestingPro. With more tips at your disposal, you can make more informed decisions about your investments.Use coupon code pro news 24 Access these valuable insights with an extra 10% off your annual or biennial Pro and Pro+ subscriptions. There are currently 5 more InvestingPro Tips listed regarding Constellation Brands, providing a comprehensive analysis for potential investors.
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