JSE-listed SABMiller has appointed Domenic De Lorenzo an executive director and CFO, effective July 23, after the board considered several high-quality internal and external candidates.
De Lorenzo had been the acting CFO of the world’s second larger brewing company since February 19.
As such, SABMiller CEO Alan Clark said in a statement on Wednesday: “Dom proved an outstanding candidate for appointment as CFO and will hit the ground running after a strong five months acting in the role.”
He noted that De Lorenzo had quickly made a positive impact and built a high level of credibility and community in the group’s finance team, and with its senior business leaders, executive committee and board. “I look forward to continuing to work with Dom as we pursue our vision to make SABMiller the most admired beverage company in the world.”
De Lorenzo was currently director of group strategy and corporate development, and a member of the group’s executive committee.
Chairperson John Manser explained that De Lorenzo, who had been with SABMiller for 19 years, had a strong record in his previous positions within the group, which had given him deep experience of developing its business and its people, and shaping its strategy. “He is a highly capable executive and will be a valuable addition to the board.”
In August 2014, De Lorenzo had assumed responsibility for group strategy alongside his previous responsibilities as director of corporate finance and development.
A chartered accountant by training, he had been closely involved with developing SABMiller’s finance strategy since his appointment to the group’s executive committee in 2011.
De Lorenzo originally joined SABMiller's corporate finance team in 1996 from UAL Investment Bank in South Africa. During his career with SABMiller, he was involved in many of its key transactions, including Pilsner Urquell, Miller Brewing Company, Peroni, Bavaria, Grolsch, the formation of the MillerCoors joint venture and the Foster’s acquisition.