Why Would A Rising Star In Diageo an executive in a company with 33,000 employees join a company with 300 employees?
Aphria’s chief commercial officer, Jakob Ripshtein, was formerly the chief financial officer of Diageo North America and the former president of Diageo Canada Inc ...
...“There is so much happening in this area right now and we think it has incredible potential,” Aurora spokeswoman Heather MacGregor said in an e-mail.
“As a rule, we do not discuss business development initiatives until they are finalized, however we have a responsibility to our shareholders to give proper consideration to all relevant opportunities that are presented.”
...“There is so much happening in this area right now and we think it has incredible potential,” Aurora spokeswoman Heather MacGregor said in an e-mail.
“As a rule, we do not discuss business development initiatives until they are finalized, however we have a responsibility to our shareholders to give proper consideration to all relevant opportunities that are presented.”
The Marijuana and alcohol industries are increasingly seen as converging into a one-stop shop for recreation, with Heineken NV’s California-based craft brewery Lagunitas announcing in June that it was working on an India pale ale-inspired sparkling water infused with THC.
“They cannot ignore this space,” said Steve Ottaway, an investment banker who specializes in cannabis for Toronto-based GMP Securities. “How they actually get there and the construct is to be determined, but they’re coming.”
With speculation rampant now as to who the contenders are, Aphria Inc. is among the leading, since Jakob Ripshtein, former CFO of Diageo North America and former president of Diageo Canada Inc. is now Chief Commercial Officer at Aphria.
Aphria Chief Commercial Officer Jakob Ripshtein added, “Today the NLSC has ensured that Nova Scotia’s adult-use consumers will have access to our thoughtfully developed brands and products come October 17. We are seeing tremendous momentum as provincial liquor boards and cannabis authorities across the country continue to respond favorably to our extensive range of product offerings. Each of our brands have been carefully developed to meet the needs and interest of distinct consumer segments, and we look forward to ensuring an ample supply is available to consumers in Nova Scotia and across the country.”
While in his CFO capacity, Jakob also served as the President of Diageo Canada, overlapping responsibilities for one year. During this time, he led Diageo’s Canada business and was responsible for implementing and developing the vision for Diageo’s brands in this market. In addition to building the company’s corporate culture and empowering its people, Jakob managed the company’s overall operations and resources and strove to continually improve Diageo’s relationships with its critical stakeholders – brokers, Provincial Liquor Regulators, and Provincial and Federal authorities. To accomplish this, in part, he has leveraged his extensive experience in Canadian and International tax matters, including the implementation of domestic and international tax effective structures.
Since first joining Diageo in 2008, Jakob has held a variety of finance roles across the company and has been based in Canada, the United States and England. Before he came to Diageo, Jakob oversaw business, sales and tax functions in the Canadian spirits, pharmaceutical and financial sectors.
Jakob Ripshtein, CA
Chief Commercial Officer at Aphria
LEAMINGTON, ON, April 25, 2018 /CNW/ - Aphria Inc. ("Aphria" or the "Company") (TSX: APH and US OTC: APHQF) today announced the appointment of Jakob Ripshtein as the Company's first Chief Commercial Officer as of May 1, 2018 and Christelle Gedeon as Chief Legal Officer as of June 1, 2018. The Company is also announcing several new management appointments as Aphria continues to add depth, experience and leadership across the organization, together with the adoption of a formal governance policy regarding investments and other opportunities.
Jakob Ripshtein, Chief Commercial Officer
As Aphria's first Chief Commercial Officer, Mr. Ripshtein will oversee the Company's commercial, sales and marketing teams. Mr. Ripshtein most recently served as Chief Financial Officer of Diageo North America, a position he has held since 2016. In his 10 years with Diageo, he also served as President of Diageo Canada and also held a variety of Finance and Commercial roles in Canada, the United States and England. While serving as CFO and President of Diageo Canada concurrently, Mr. Ripshtein managed Diageo Canada's overall operations and resources and strove to continually improve Diageo's relationships with its critical stakeholders – brokers, Provincial Liquor Regulators, and Provincial and Federal authorities. Prior to Diageo, he oversaw business, sales and tax functions in the Canadian spirits, pharmaceutical and financial sectors.
Mr. Ripshtein joins Aphria's Executive Team, reporting to the CEO, and will be based in Toronto. He will be an integral part of strategic planning in both Sales and Marketing, as well as leading various commercial business plans.
"Jakob is a tremendous addition to our leadership team and we are thrilled to welcome him to the Aphria family," said Vic Neufeld, CEO of Aphria. "He brings an incredible track record and a depth of experience in regulated industries that will strengthen our commercial, sales and marketing operations and our entire organization. We're continuing to add world-class talent as we build Aphria's bench strength throughout the company"
IT IS HIGHLY UNLIKELY RIPSHTEIN(APH CCO) WOULD LEAVE DIAGEO TO JOIN APHRIA, UNLESS DIAGEO HAS AN INTEREST IN PARTNERING / ACQUIRING APHRIA AT SOME POINT. THERE IS NO WAY DIAGEO WOULD LET ONE OF THEIR RISING STARS SIMPLY WALK AWAY. DIAGEO MOST LIKELY ELECTED TO PLACE ONE OF ITS OWN ON THE APHRIA MANAGEMENT TEAM AS PART OF THEIR DUE DILIGENCE. DIAGEO IS MOST LIKELY STILL PAYING RIPSHTEIN’S SALARY.
READ MORE AT HTTP://WWW.STOCKHOUSE.COM/COMPANIES/BULLBOARD/T.APH/APHRIA-INC?POSTID=28526414#CWORXTCPWOTTHB0T.99
IS JAKOB RIPSHTEIN STILL ON THE DIAGEO PAYROLL?
Trying to read tea leaves here...
It was reported earlier this week that Jakob Ripshtein left Diageo to join Aphria. From my perspective this makes no sense, unless…
By all accounts, Ripshtein is a rising star within the Diageo organization. He first arrived on the scene back in 2008 as Vice President of Finance. He spent the last ten years climbing the Diageo corporate ladder, leading to his most current role as CFO Diageo. Prior to joining Diageo he held various positions in the spirits and wine industry.
Diageo has a market cap greater than $80 billion dollars, 33,000 employees and is one of the world’s largest distillers. Aphria is a new company, has a market cap of $2 billion and only 300 employees.
Not saying it isn’t possible, but it is highly unlikely Ripshtein would leave Diageo to join Aphria, unless Diageo has an interest in partnering / acquiring Aphria at some point.
The Ripshtein announcement May 2018 all but confirms Diageo has an interest in partnering / acquiring Aphria. This may or may not happen.
There is no way Diageo would let one of their rising stars simply walk away.
Ripshtein, despite the press release, has not resigned from Diageo. Before sinking a dime into Aphria, Diageo most likely elected to place one of its own on the Aphria management team as part of their due diligence.
Diageo is most likely still paying Ripshtein’s salary.
A non-disclosure / non compete agreement would have been signed between Aphria and Diageo should nothing become of this.
If a deal is consummated, Ripshtein becomes the new CEO of Aphria when Vic steps down. Not to say there aren’t other individuals within the Aphria organization that could fill the role, but most likely Diageo would want to place one of their own in the position of CEO.
We are seeing the early stages of succession planning for when Vic retires.
If at some point Ripshtein resigns from Aphria and returns to Diageo (a company he never really left) then you know the “deal is off”.
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