Bacardi eyes China growth with new exec role

Bacardi has appointed former IMG executive Adam Zhu to the newly created role of non-executive chairman of Greater China and special advisor to the group’s CEO.

Adam Zhu’s appointment comes as Bacardi targets growth in China – described as the group’s “biggest market of opportunity”

Zhu most recently served as chairman and CEO of IMG Greater China and vice chairman of IMG Asia Pacific, where he led the company’s joint venture activities with China Central Television, as well as managed IMG’s businesses in the country.

He will now develop strategic growth plans for Bacardi in the region, reporting to the group’s CEO Mike Dolan – former president of IMG – and working alongside Bacardi Asia Pacific regional president Jon Grey.

“Now more than ever, we have an opportunity to capture greater market share and drive our premium and super-premium brand growth in this emerging region,” said Dolan.

“With his longstanding relationships with leading global and Chinese corporations, institutions and governments, Adam will provide greater focus on our biggest market of opportunity: China.”

Prior to his time at IMG, Zhu served as managing director of China Investment Banking at Bank of America Merrill Lynch and as chief representative of Merrill Lynch’s Beijing Representative Office.

“China is an amazing country to do business in. The spirits industry and specifically the growing cocktail culture provides an untapped opportunity for Bacardi and its iconic brand portfolio,” said Mr. Zhu, who has worked in China for more than 25 years.

Earlier this year, Bacardi revealed plans to streamline its global advertising business, appointing BBDO Worldwide and OMD Worldwide – both part of Omnicom Group – to handle its entire publicity, media and digital operations.