Scottish & Newcastle puts new team in UB

Global beer major Scottish & Newcastle (S&N) which recently acquired 37.5 per cent stake in United Breweries (UB) is getting into the thick of action at UB Group.

Lesley Jackson, a key executive from S&N has taken over as the chief financial officer (CFO) of United Breweries Ltd.

She has been nominated by Scottish & Newcastle Plc, UK, in accordance with the agreement to facilitate the strategic sale of a 37.5 per cent stake. S&N has invested approximately Rs 940 crore in the beer business of the UB Group.

Lesley Jackson replaces P A Murali, who was executive vice-president, finance of United Breweries. He has now been moved to United Spirits as chief financial officer. United Spirits' operations include McDowell, Herbertsons, Triumph Distillers & Vintners and Shaw Wallace.

A statement from UB Group said that Murali played a pivotal role in bringing in Scottish & Newcastle as a strategic partner.

UB Group has also announced that Harish Bhat has been appointed as executive vice-president - finance for the entire UB Group.

He will be responsible for corporate finance activities in the group including promoter funding, equity and debt raising (other than working capital), mergers and acquisitions and reorganisation.

Until now, Bhat was executive vice-president of spirits division of the UB Group.

"His skills will now be utilised on a wider platform to address the long-term structural funding needs of the group.

He will closely interact with the operating companies of the group, and assist them for long-term fund raising as well as corporate reorganisation," said Ravi Nedungadi, president & CFO of the UB Group.