Constellation Brands President and CEO Bill Newlands is stepping down, to be replaced in April by Nicholas Fink.
The Rochester-based Fortune 500 company described the move as part of a long-envisioned succession planning process.
Fink has been a board member since 2021, and previously led the home and security products company Fortune Brands Innovations. Before that, he held various senior leadership positions in Suntory Global Spirits.
Newlands joined Constellation in 2015, and has led the company since 2019. He will hand over the reins on April 13, retire from the company’s board and serve as a strategic adviser for the next several months to ensure a smooth transition, a company news release stated.
Constellation produces, imports and markets beer, wine and spirits with its top products including Modelo, Corona and Pacifico beers.
“Over the past several years, Constellation Brands’ Board of Directors has engaged in a thoughtful and comprehensive CEO succession planning process, and we are excited to welcome Nick as our next president and CEO,” Constellation Brands board chairperson Chris Baldwin said in a statement. “Nick has a diversified set of leadership experiences and is an accomplished beverage alcohol executive with a deep understanding of Constellation’s business model, having served as a member of the company’s board for the past five years.”
