Constellation Brands appoints ex-Suntory EXEC Nick Fink as CEO
Constellation Brands names board director Nick Fink as CEO amid portfolio reshaping and pressure on US beer demand.
USA – Constellation Brands has appointed board director and former Suntory executive Nick Fink as its new chief executive officer, marking a leadership transition at one of the largest beverage alcohol groups in the United States.
The company said Fink, who joined the board in 2021, will take over from Bill Newlands, who is set to step down on 13 April.
Newlands will remain with the business as a strategic adviser to support what Constellation described as a “smooth transition” of leadership responsibilities.
Constellation board chair Chris Baldwin said the appointment positions the company for long-term success. “Nick will bring unique perspective and capabilities that will benefit Constellation and its stakeholders as we position the company for long-term success in a rapidly evolving and hyper-competitive environment,” Baldwin said.
Fink has served as chief executive of Fortune Brands Innovations since January 2020. Prior to that, he spent nine years at Suntory Global Spirits, where he held several senior leadership roles, including president for Asia Pacific and South America, as well as senior vice president and chief strategy officer.
Newlands welcomed the leadership change, saying: “I look forward to working with Nick in the coming months to help ensure a smooth transition, and I’m excited to see what the team achieves in the years ahead under Nick’s leadership.”
Newlands joined Constellation Brands in 2015 and was appointed president and CEO in 2019. During his tenure, the company undertook a significant reshaping of its portfolio, divesting several wine and spirits brands as it focused on higher-end, higher-margin products. These moves came against a backdrop of mounting pressure on the US beer segment, which remains central to Constellation’s business.
In April, the company said pressure on Hispanic consumer sentiment in the US was affecting its beer performance.
By September, Constellation reduced its earnings outlook, citing “volatile consumer purchasing behaviour,” and said it expected annual beer sales to decline. The company also cut expectations for earnings per share and lowered forecasts for sales and operating profit in its beer division.
Alongside challenges in beer, Constellation continued to streamline its wine and spirits portfolio. In April, it sold six brands, including Woodbridge, Meiomi and Cook’s, to The Wine Group. Similar transactions took place in 2022 and 2021, while in December 2024 the group sold Svedka vodka to Sazerac.
Baldwin said Newlands’ leadership delivered strong results, noting: “During Bill’s time as president and CEO, Constellation Brands consistently ranked among the top growth leaders among large CPG companies, and Modelo Especial became the #1 selling beer in US dollar sales.”
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