Constellation CFO Bob Ryder steps down

Bob Ryder, chief financial officer of Svedka Vodka owner Constellation Brands, has resigned from his post to “seek new challenges”.

Ryder, who is also executive vice president of the company, will be replaced by David Klein, who most recently served as CFO of the company’s beer division.

“It is with truly mixed emotions that I announce I have decided to leave the company as I feel now is the time that I can fully commit myself to seek new challenges and explore external opportunities,” said Ryder.

“CBI is a terrific company and is in great shape – there is a strong financial leadership team and excellent financial governance and controls are in place.”

The US spirits producer, which also owns Paul Masson Grande Amber Brandy, said that Ryder’s departure was “amicable” and “unrelated” to the company’s financial performance.

Despite the success of Paul Masson – recent named Cognac and Brandy Brand Champion 2015 by The Spirits Business – Constellation Brands reported flat sales in 2014/15, with just 1% growth.

“Since 2007, Bob has been a key contributor to many of Constellation’s most important achievements,” said Rob Sands, president and CEO of Constellation Brands.

“As CFO, Bob has built an incredibly talented organisation and laid the foundation for future success. Along with our employees, I thank Bob for his many years of service and for helping to build a company that is unrivaled in the industry.”