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ROCHESTER, N.Y. - Constellation Brands (NYSE: STZ), a prominent beverage alcohol company with a market capitalization of $34 billion and currently trading near InvestingPro’s Fair Value estimate, today announced a forthcoming change in its executive leadership. Paula Erickson is set to join the company as Executive Vice President and Chief Human Resources Officer starting April 21, 2025. Erickson will be part of the Executive Management Committee and oversee global human resources initiatives, including talent strategies and operations.
The current Executive Vice President and Chief Human Resources Officer, Kris Carey, will step down from her role in May 2025. Carey, who has been with Constellation Brands for nearly 12 years, will remain in an advisory capacity for a short time to assist with the transition.
Constellation Brands’ President and CEO, Bill Newlands, expressed gratitude for Carey’s contributions and welcomed Erickson, citing her experience and track record in the industry. Erickson’s previous role was at Beam Suntory Inc., now Suntory Global Spirits, where she played a key role in talent strategy and managed significant changes within the company, including during the COVID pandemic and the headquarters’ relocation.
Erickson commented on her appointment, noting her admiration for Constellation’s adaptability and commitment to investing in its people and growth.
Constellation Brands, with operations in the U.S., Mexico, New Zealand, and Italy, is known for its portfolio of beer, wine, and spirits brands, including Corona, Modelo, and Robert Mondavi. The company emphasizes sustainable and responsible operations aligned with its long-term business strategy.
This leadership transition is part of the company’s ongoing efforts to maintain its growth trajectory and human resources strategy. The information regarding the executive changes is based on a press release statement from Constellation Brands.
In other recent news, Constellation Brands has been the subject of multiple analyst reports following its fourth-quarter earnings release. RBC Capital Markets adjusted its price target for the company to $233 from $289, maintaining an Outperform rating despite demand challenges in its core Hispanic demographic. The company’s decision to divest its mainstream wine brands is seen as a strategic move to enhance future performance. Meanwhile, Jefferies lowered its price target to $196, citing a slowdown in the beer segment due to macroeconomic conditions, though growth is still anticipated at a reduced pace. TD Cowen also maintained a Hold rating with a price target of $180, acknowledging a slowdown in key demographic growth but noting that Constellation Brands’ earnings per share surpassed expectations. BofA Securities cut its price target to $195, maintaining a Neutral rating, and highlighted the company’s strategic divestitures in its wine segment as a move to streamline operations. BMO Capital Markets reduced its target to $215 while maintaining an Outperform rating, noting that Constellation Brands exceeded earnings expectations despite softer beer sales. The company has also provided lower-than-expected guidance for fiscal years 2026 through 2028, reflecting anticipated challenges in the consumer environment. These developments indicate that Constellation Brands is actively adjusting its strategies to navigate current market conditions.
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