US distiller MGP Components has named former Constellation Manufacturers and Coca-Cola govt Julie Francis its president and CEO.
The whiskey, vodka and gin distiller mentioned Francis would take the helm in the present day (21 July).
Brandon Gall, who has been interim president and CEO since January, will proceed to be the CFO of the Remus Bourbon proprietor.
Gall took the reins when David Bratcher resigned simply earlier than Christmas after lower than a yr as MGP Components CEO.
“Julie is a confirmed chief with a long time of expertise driving development and worth creation throughout the meals and beverage area, making her the perfect candidate to steer MGP ahead,” chairman Martin Roper mentioned.
Roper added the brand new CEO would “construct on the actions that Brandon and the MGP crew have taken to higher align our companies with present shopper traits”.
In 2024, MGP Components gross sales fell 16% to $703.6m and its adjusted EBITDA decreased 6% to $196.5m. Web earnings slid by greater than two thirds from $107.5m to $34.7m.
Final October, amid strain on spirits gross sales within the US and better ranges of stock throughout the nation’s whiskey trade, MGP Components issued a revenue warning. The group subsequently introduced plans to chop whiskey manufacturing.
Within the first quarter of 2025, MGP Components’ gross sales decreased 29% to $121.7m. The corporate recorded a lack of $3.1m, which it was mentioned was primarily as a result of change in “truthful worth of the contingent consideration legal responsibility” associated to the “improved efficiency” of the Penelope Bourbon model. On an adjusted foundation, internet earnings decreased 68% to $7.8m.
For 2025 as an entire, the corporate is forecasting gross sales of $520-$540m and adjusted EBITDA of $105-115m.
Francis’ most up-to-date govt function was COO at US frozen-food group Schwan’s Firm from January 2021 to July 2024, in accordance with her LinkedIn profile.
She joined Schwan’s in 2018 after just below 18 months at Constellation Manufacturers, the place she was senior vp of economic and class improvement for the Modelo brewer’s Whole Beverage Alcohol platform.
Earlier than Constellation, Francis was chief business officer for The Coca-Cola Firm for 5 years. Earlier than The Coca-Cola Firm, her six years on the then Coca-Cola European Companions included two as VP for gross sales and advertising and marketing in North America.
“MGP’s robust basis, constructed on a legacy of high quality, operational excellence, and a portfolio of enticing alcoholic spirits manufacturers, is a real credit score to this gifted crew,” she mentioned in a press release. “I’m excited to companion with Brandon and the MGP crew as we construct upon this wonderful platform to develop our manufacturers, deepen shopper connections, and create worth for all stakeholders.”