Constellation Brands has revealed that its chief growth & strategy officer is moving on – four months after joining the group.
The group, which owns the Corona and Modelo beer brands in the US, confirmed this week that E Yuri Hermida will “pursue career interests outside the organisation” once he leaves at the end of this month. Hermida (below) started in the senior role in October.
Replacing him, albeit on an interim basis, will be Constellation’s beer brands MD, Mallika Monteiro.
“Yuri made a difficult decision to leave Constellation Brands to pursue a life-long career goal and we wish him the very best in his future endeavours,” said CEO Bill Newlands. “Mallika will serve as interim chief growth & strategy officer, in addition to her current responsibilities leading our beer marketing organisation, as we work through this transition.”
Monteiro’s time with the multicategory company dates back to last 2016, when she moved across from Anheuser-Busch InBev. Newlands noted that she held the chief growth officer role prior to assuming her current role, also in October last year.
In its fiscal third-quarter results, announced last month, Constellation blamed “value-seeking behaviours” among consumers for contributing to a flat sales performance in the three months to the end of November. A six-strong streak of quarterly sales rises came to an end, with the company posting a resultant 3% top-line lift from the first nine months of its fiscal 2025 (to the end of February).
For the full 12-month period, Constellation said at the time it expects sales to come in up by between 2% and 5%, suggesting the possibility of further flatness in the short term.
