Aphria Inc. ("Aphria" or the "Company") (TSX: APHA and NYSE: APHA) today announced the results of the shareholder resolutions considered at the Company's Annual and Special Meeting of Shareholders (the "Meeting") held on November 2, 2018.
Tom Looney Appointed A Director Nov 2 2018
(italics ours: Why would a 55 year old superstar retire from Diageo and join Aphria?)
Mr. Looney recently retired as President of Diageo US Spirits. Canada. In this position, he was responsible for the growth and development of the company's spirits business in the United States & Canada including brands such as Smirnoff, Crown Royal, Baileys, Johnnie Walker, Captain Morgan and Ketel One. He was also a member of Diageo's North American Executive Team. Prior to his current role, Mr. Looney held the position of President, Diageo Beer Company overseeing US sales, finance, marketing and innovation teams. Prior to that, he was Chief Commercial Officer where he oversaw the pricing strategy, business analytics and commercial marketing functions across spirits, beer and wine for North America.
Plus
Jakob Ripshtein promoted to the President Of Aphria
Effective October 1 2016, Tom Looney will expand his role to include Diageo Canada and National Accounts, adopting the title of president, US Spirits and Diageo Canada.
Looney will take National Accounts duties from Jeff Ivey, who has announced his retirement, while the Diageo Canada business will be transferred to him from Jakob Ripshtein, Diageo North America CFO and president Diageo Canada.
Peter Kourtis will continue to lead the Canada sales organisation as general manager, and will report to Looney.
Ripshtein will continue in his role as CFO for North America, singularly focused on leading the North America Finance function and reporting to Deirdre Mahlan, president, Diageo North America.
“The changes we are announcing today will support our business strategy and productivity goals,” said Mahlan.
“This is part of an ongoing effort to ensure that our strategic assets – our people and culture, brands, processes and technology – are positioned optimally so that we can reinvest in our business to deliver sustained performance.
“In Canada, the changes we are making to our structure and reporting lines are designed to strengthen this important business leveraging our North America resources more fully.
“We are very fortunate to have someone with Peter’s depth of knowledge and experience in both the Canadian and US business leading our Canada team.”
As the transition gets underway, Ivey will remain to support the process until June 30, 2017.
“With a long career in this industry, Jeff’s leadership and vision has helped shape leading commercial execution in Diageo and in our dedicated distributors,” added Mahlan.
“Jeff is known as a thoughtful, strategic leader whose experience has helped him navigate the complexities of our industry in ways that have helped move our business forward, especially with regard to distributor alignment. I wish him the best in his retirement.”
https://www.thespiritsbusiness.com/2016/09/diageo-north-america-streamlines-commercial-team/
Schubert takes on U.S. Spirits and Canada from Tom Looney. After a 30 year career with the business,
Looney has decided to retire
Tom Looney is joining the board of Directors at Aphria. He is set to retire from Diageo Sept 30, 2018. This document can be found on Sedar under Aphria - Sept 28 -
Management Information Circular.
Tom Looney and Jakob Ripshtein that makes 2 former high Diageo members. There aren't many more powerful at Diageo than Former Diageo US President and Former Diageo Canada President on your team. November 2nd is the annual general meeting to vote.
These guys along with Michael Serruya,
Schlomo Bibas and John M. Herhalt.
Michael Serruya began his career at age twenty as one of the co-founders of Yogen Früz®. Michael was also the CEO of Coolbrands® (then home to CPG brands including Weight Watchers®, Eskimo Pie®, Tropicana® and Godiva® Ice Cream). More recently, he acted as CEO of Kahala Brands® (home to global QSR brands including Cold Stone Creamery®, Taco Time® and Blimpie Subs®). Michael has also participated on the Boards of Directors of a number of both publicly and privately traded companies including Jamba Juice Inc.® and The One Group Hospitality Inc. Juice and Cannabis could be next (Italics ours)
Michael’s entrepreneurial spirit drives his strength as an owner, partner and operator who is capable of implementing complex global strategic plans to transform businesses.
Michael specialized in Mergers & Acquisitions and strategic investments.
Shlomo Bibas
Shlomo is an accomplished senior IT executive. He currently serves a Senior Vice President of Global Enablement Operations and Global Chief Information Officer at Apotex Group of Companies; and is a member of the Executive Cabinet that directs the company. In this capacity, Shlomo has global responsibility for all IT operations, risk management, customer care, innovation, and business enablement. He also has responsibility for the Legal and Procurement functions globally.
Previously, Shlomo was a Partner at Accenture, where he spent 19 years of his career providing IT and management consulting services to Fortune 500 companies. During his tenure at Accenture, Shlomo served as part of the Global Business Solutions Leadership Team, and led the High-Tech practice in Canada.
Shlomo has extensive experience in High-Performance IT; and a proven track record identifying, qualifying, defining, planning, and successfully delivering large-scale technology-centric transformation programs. Shlomo has also participated in several technology start-ups, where he created an immediate impact through innovation, intellect, and multi-disciplinary collaboration.
Shlomo, also serves as Director of the board at Indigena Solutions, and is a member of the Toronto Board of Trade. Shlomo is an Engineering alumnus from the University of Toronto, and currently resides in Richmond Hill with his wife and three children.
Mr. John Herhalt has been Independent Director of Aphria Inc. since September 2018. He serves as the Global Chair of the Government & Infrastructure Practice at KPMG LLP. Mr. Herhalt also provides financial and management consulting services on a part-time basis to clients primarily in the power and utilities and public sectors. He served as a Canadian Managing Partner of Advisory at KPMG LLP. He was a former Global Head of KPMG’s Infrastructure, Government and Health Line of Business (2004-2013) and National Advisory Leader for KPMG Canada (2007-2010). He has over 36 years of experience, leading many projects within the public sector and power and utilities sector, and advising clients extensively in areas of strategic and business planning, governance, organizational restructuring, risk management, performance management, alternate service delivery and process improvement. Mr. Herhalt’s experience includes projects with municipalities, universities and colleges, hospitals, school boards, public and private utilities, provincial and federal government ministries, crown corporations and agencies, and regulatory authorities. He is a Canadian and International Infrastructure Advisory Board Member of Fengate Capital Management Ltd. He also serves on the Boards of Easter Seals Ontario, Easter Seals Canada and Federal Liberal Agency of Canada.
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.”
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.”
Jakob Ripshtein is the Chief Financial Officer of Diageo North America, a global leader in beverage alcohol with iconic brands including Johnnie Walker, Crown Royal, Smirnoff, Cîroc, Ketel One, Captain Morgan and Guinness and a global employer of more than 33,000 people around the world. Diageo North America is the company’s largest market, responsible for more than 30% of global net sales and 45% of global operating profit. Jakob was appointed as CFO in January 2016 and is a member of Diageo North America’s Executive team. He is a strategic thought leader with international experience in leading teams to achieve revenue, sales and profit targets. He brings global expertise and high levels of judgment to lead markets with breakthrough strategies.
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
3rd degree connection
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”.
