Bacardi confirms Dolan as permanent CEO

Bacardi has confirmed its interim CEO Mike Dolan – former head of IMG – will continue to lead the group on a permanent basis.

Mike Dolan has been appointed permanent CEO of Bacardi, eight months after taking up the role on an interim basis

Dolan, who most recently served as chairman and CEO of sports, fashion and media company IMG Worldwide, was appointed interim chief executive of the Bermuda-based group following the retirement of Ed Shirley, who left Bacardi after just two years as its head.

The group has experienced a series of setbacks in its executive team over the past year, with Shirley, chief financial officer Joseph Schena, North America president Robert Furniss-Roe, and most recently chief marketing officer Andy Gibson all exiting the company.

Dmitry “Dima” Ivanov, previously Bacardi’s global category director of rums, was appointed CMO of the group earlier this week.

Of Dolan’s permanent appointment, Bacardi said in a letter to shareholders: “Having used his brief period of initiation in the interim CEO role to gain an even deeper insight into the company’s brands and its people, we are delighted that the confidence Mike gained in the company’s potential to succeed encouraged him to take on the role permanently.”

Dolan was also previously executive vice president and chief financial officer of Viacom, Inc. and prior to that chairman and CEO of Young & Rubicam (Y&R), a global marketing services company. He has sat on Bacardi’s board since 2009.

Bacardi owns brands including Dewar’s Scotch whisky and Bombay Sapphire gin in addition to its namesake rum brand, which saw a 4% decrease in volume sales in 2013 to 19.1 million nine-litre cases.