Constellation Brands Announces Governance Enhancements, Elects Two New Independent Directors

Luca Zaramella, CFO of Mondelēz International, and William T. Giles, Former CFO of AutoZone, to Join the Company’s Board of Directors

Constellation Enters into Cooperation and Information Sharing Agreements with Elliott Investment Management L.P.

Company to Host Investor Day This Fall

VICTOR, N.Y., July 18, 2023 (GLOBE NEWSWIRE) — Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, today announced the election of Luca Zaramella, Chief Financial Officer of Mondelēz International, and William (Bill) T. Giles, former Chief Financial Officer of AutoZone, to the company’s Board of Directors effective July 18, 2023, following the conclusion of the company’s 2023 Annual Meeting of Stockholders. Based on the preliminary results of the Annual Meeting, the 11 incumbent Directors that stood for reelection have each been reelected to the Board for a one-year term. Today’s election of Mr. Zaramella and Mr. Giles brings the size of Constellation’s Board to 13 members and comes as part of a comprehensive Board refreshment and governance enhancement process the company launched following its transition from a dual to a single class share structure last year.

As part of this process and to facilitate collaboration with Elliott Investment Management L.P. (together with its affiliates, “Elliott”), one of Constellation’s largest investors, Constellation has entered into Information Sharing and Cooperation Agreements with Elliott. Under the Information Sharing and Cooperation Agreements, Elliott has agreed to standstill, voting, confidentiality, and other provisions.

“We are excited to welcome Luca and Bill, who bring strong financial expertise that we believe will greatly benefit Constellation’s Board and management team, as we focus on long-range planning, capital allocation, and financing strategies,” said Constellation Brands President and Chief Executive Officer Bill Newlands. “We appreciate the perspective provided by our counterparts at Elliott, who have provided valuable input as we continue to take steps to enhance value to the company’s shareholders and other stakeholders.”

“After several months of constructive discussions with Constellation, we are pleased to have collaborated with CEO Bill Newlands and the Company on these governance enhancements, which build on the positive changes Constellation has already made,” said Elliott Senior Portfolio Manager Marc Steinberg and Portfolio Manager Michael Goldberg. “We are among Constellation’s largest investors because we believe the company’s meaningful growth potential, powered by its premier Mexican beer portfolio, is not currently reflected in the company’s stock price, and represents a significant amount of value that can be created from here. We believe that Bill and his team are the right leaders with the right strategy to deliver that value to shareholders through strong commercial execution and focused capital allocation.”

Constellation also will host an investor day later this year to provide an update on the strategic initiatives and outlook of the company and its Beer and Wine & Spirits Businesses. The event will include presentations and Q&A sessions with members of Constellation’s leadership team. In-person attendance for financial analysts and institutional investors will be by invitation only due to limited capacity, but presentation materials and a live webcast of the event, as well as replay of the webcast following the event, will be made available through the company’s Investor Relations website (ir.cbrands.com). The specific date, time, and location for the event will be announced at a later date.

ABOUT LUCA ZARAMELLA
Luca Zaramella has served as Executive Vice President, Chief Financial Officer of Mondelēz International (Nasdaq: MDLZ) (“Mondelēz”), a global snacking leader, since August 2018. In this role, he is responsible for the oversight of the company’s global Finance, Information and Technology Solutions and shared service functions. He previously served as Senior Vice President Corporate Finance, CFO Commercial, and Treasurer from June 2016 to July 2018, as Interim Lead Finance North America from April 2017 to November 2017, as Senior Vice President and Corporate Controller from December 2014 to August 2016, and as Senior Vice President, Finance of Mondelēz Europe from October 2011 to November 2014. He joined Mondelēz in 1996.

As a current chief financial officer, Mr. Zaramella brings to the Board his expertise in global finance, information and technology solutions, mergers and acquisitions, and shared service functions.

ABOUT WILLIAM T. GILES
William T. Giles served as Chief Financial Officer and Executive Vice President – Finance, Information Technology and Store Development, Customer Satisfaction for AutoZone, Inc. (NYSE: AZO) (“AutoZone”), the leading retailer and distributor of automotive replacement parts and accessories in the Americas, from 2007 to December 2020. Mr. Giles joined AutoZone in 2006 as Chief Financial Officer and Executive Vice President Finance. From 1991 to May 2006, he held several positions with Linens ‘n Things, Inc., a retailer of home textiles, housewares, and decorative home accessories, most recently as Executive Vice President and Chief Financial Officer. Prior to 1991, Mr. Giles was with Melville, Inc. and PricewaterhouseCoopers.

Mr. Giles serves on the board of directors for Brinker International (NYSE: EAT) and Floor and Decor Holdings, Inc (NYSE: FND). In addition, Mr. Giles is a member of the American Certified Public Accountants and the New York State Society of CPAs.

Mr. Giles brings to the Board more than three decades of financial proficiency and business leadership in retail products and skills as chief financial officer of a public company. He also provides insights into strategic, risk management, governance, and financial issues facing public companies in retail products.

ABOUT CONSTELLATION BRANDS
Constellation Brands (NYSE: STZ) is a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Our mission is to build brands that people love because we believe elevating human connections is Worth Reaching For. It’s worth our dedication, hard work, and calculated risks to anticipate market trends and deliver more for our consumers, shareholders, employees, and industry. This dedication is what has driven us to become one of the fastest-growing, large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what’s next.

Every day, people reach for our high-end, iconic imported beer brands such as those in the Corona brand family like the flagship Corona Extra, Modelo Especial and the flavorful lineup of Modelo Cheladas, Pacifico, and Victoria; our fine wine and craft spirits brands including The Prisoner Wine Company, Robert Mondavi Winery, Casa Noble Tequila, and High West Whiskey; and our premium wine brands such as Kim Crawford and Meiomi.

As an agriculture-based company, we have a long history of operating sustainably and responsibly. Our ESG strategy is embedded into our business and our work focuses on serving as good stewards of the environment, enhancing social equity within our industry and communities, and promoting responsible beverage alcohol consumption. These commitments ground our aspirations beyond driving the bottom line as we work to create a future that is truly Worth Reaching For.

To learn more, visit www.cbrands.com and follow us on Twitter, Instagram, and LinkedIn.

FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements. The word “expect” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These statements may relate to business strategy, future prospects, plans, and objectives of management and Constellation’s Board of Directors, the final result of the Company’s 2023 Annual Meeting of Stockholders, anticipated benefits of the agreements with Elliott, steps designed to enhance shareholder value, and the Company’s planned investor day, as well as information concerning expected actions of third parties. All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those set forth in, or implied by, such forward-looking statements. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur.

The forward-looking statements are based on management’s current expectations and should not be construed in any manner as a guarantee that such results will in fact occur. All forward-looking statements speak only as of the date of this news release and Constellation does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

In addition to risks and uncertainties associated with ordinary business operations, the forward-looking statements contained in this news release are subject to other risks and uncertainties, including the accuracy of all projections and other factors and uncertainties disclosed from time-to-time in Constellation Brands’ filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended February 28, 2023 and its Quarterly Report on Form 10-Q for the fiscal quarter ended May 31, 2023, which could cause actual future performance to differ from current expectations.

MEDIA CONTACTS INVESTOR RELATIONS CONTACTS
Amy Martin 585-678-7141 / amy.martin@cbrands.com Joseph Suarez 773-551-4397 / joseph.suarez@cbrands.com
Snehal Shah 847-385-4940 / snehal.shah@cbrands.com
David Paccapaniccia 585-282-7227 / david.paccapaniccia@cbrands.com

A downloadable PDF copy of this news release can be found here: http://ml.globenewswire.com/Resource/Download/3cfaaf69-38c3-435d-a4e3-caa9ca657344

GlobeNewswire Distribution ID 8876596

“Suthin” received a vote today, more tired than the first round.

Parliament, July 19 – “Suthin” prepares to nominate “Pita” as prime minister. in the second round of voting I admit this time it’s more tiring than the first round. Because you have to fight the issue of re-nomination?

Mr. Suthin Klangsaeng, Pheu Thai Party-list MP, revealed that today’s parliamentary meeting The Pheu Thai Party resolved for him to nominate Mr. Phitha. Lim Chareonrat be prime minister which represents the spirit of the party As for the game, will it turn around or not? have to wait and see due to controversy that Council meeting rules will be able to nominate Mr. Phitha Second round? And there are both parties who see that they cannot propose under Article 41 and those who see that they can repeat the proposal because it is in compliance with the constitution. It is believed that the Speaker of the National Assembly will have the opportunity to listen to various opinions. and finally had to hope that the president will be the judge or let the National Assembly pass a resolution which is considered an important checkpoint If this issue can be passed therefore will enter the process of selecting the Prime Minister’s vote But if you don’t pass this level, it’s the end.

“Confirmed that the 8 parties joining together to form a government continue to hold hands and move forward. But when it comes to a decision must decide together without any other political parties joining The results of this round of votes will come out, however, it will have to be discussed again. At the same time, asking for support is normal. For today, I think it’s more tiring than the 13th of July. Because having to fight in terms of opinions according to Article 41 is considered a mixed issue. The legislative team of the council still has a bipartisan view,” Sutin said.

The part that was noted that if the meeting was allowed to vote There is a high chance that the motion will not pass. It’s hard to predict how it will vote. Therefore, it is considered that the sound is evenly matched.-Thai News Agency

Source: Thai News Agency

Pheu Thai has not sent “Srettha” to compete.

Parliament, July 19 – “Mr. Chon Nan” stated that Pheu Thai has no plans to make the name “Srettha” to compete for the prime minister, telling him to wait for today to be clear. Refuse to respond whether the government crosses the border or not.

Chonnan Srikaew, leader of Pheu Thai Party Mentioned the nomination of Mr. Phitha Lim Chareonrat Candidate Prime Minister, the Kao Klai Party, will it be considered a repeated motion or not, if asked whether it is a repeated motion or not? It is not Article 41, it is a constitutional process to be able to re-nominate.

As for today, the Constitutional Court will consider Mr. Pita’s petition in the case of media shares. Is the Pheu Thai Party worried about this matter? whether in the event that a court ruling comes out will affect today’s vote or not To which he clearly replied that If it’s just accepting the request, it hasn’t been finalized yet. It is assumed that Mr. Phitha Qualified and not prohibited characteristics can be nominated and approved.

When asked about the case of senators, many people were confident that Mr. Phitha’s name could not be voted today. Will 8 parties argue or not? If the chairman of the meeting Permission to interpret regulations we follow that and if the majority said it was a repeated motion did not receive a vote, the Prime Minister had to accept

As for if it is a repeated motion Pheu Thai ready to nominate Mr. Srettha Thavisin, Pheu Thai Party’s candidate or not, Dr. Chon Nan said there was no plan.

In the case of the senator, he stated If the Pheu Thai Party is a leader and has a far-reaching party involved, it will not agree that Dr. Chon Nan said he did not want to think ahead. It’s just the opinion of some senators. Whether it’s all or not, he doesn’t know, can only listen.

When asked to repeat that Is the Pheu Thai Party a leader and able to pull the senators’ votes? Even with the Progressive Party joining, Dr. Chon Nan said it was a process that would happen in the future. Have to wait for the facts that will happen today and what is the opinion of the 8 coalition parties, especially the far-reaching party? If doing as stated by Mr. Phitha Even though I can go there and I can answer that Pheu Thai is ready and not ready to campaign for senators.

As for the campaign for the 9th or 10th party MP to come in more Pheu Thai must be clear first, right or not, how much senator gets. Dr. Chonnan said that about the 9th party, the 10th is an answer to the question asked by the media. If Pheu Thai is the leader of the establishment, it must comply with the original MOU. to let the second-ranked party be the leader He asked whether to change the MOU or not, and he replied that if Pheu Thai was a leader The MoU originally wrote that everything that goes forward must change. And the rights of the mainstream party must discuss with the 8 coalition parties how much the mainstream party has the right to campaign. If the right to vote can be added. For example, pulling other parties in must change the MOU. He replied like this I didn’t go to dismantle or adjust anything.

As for whether there will be a cross-polar government or not, Dr. Chon Nan said he did not want to answer this issue. Will there be a chance or not a chance? Let today’s issue come first and the statements of the 8 coalition parties come first. He did not know anything.-Thai News Agency

Source: Thai News Agency

Thai stocks closed this morning plus 0.58 points.

Bangkok, July 19- The Stock Exchange of Thailand Closed this morning at 1,535.88 points, an increase of 0.58 points (+0.04%), with a trading value of approximately 30,094 million baht.

The SET closed this morning at the closing level of 1,535.88 this morning, an increase of 0.58 points (+0.04%), trading value of approximately 30,094 million baht. revealed that the Thai stock market fluctuated in the morning according to the situation At the end, he jumped upwards in response to the Constitutional Court accepting Mr. Pita’s petition for disciplinary action. Lim Chareonrat In the case of holding shares in ITV media And ordered to stop performing MP duties immediately, hoping that the Pheu Thai Party would become the leader instead Before the index dropped from taking profit when it reached a resistance of 1,545 points, the afternoon trend was expected to be volatile, keeping an eye on the Prime Minister’s vote for support at 1,525 points and resistance at 1,550-1,560 points.-Thai News Agency

Source: Thai News Agency

KONI ropes in Korean firm to improve 2024 PON quality

With this quality improvement, Indonesia will have bigger opportunities to become the host of international championships, both single and multi-branches Jakarta (ANTARA) – The National Sports Committee (KONI) is cooperating with a South Korean information technology company to improve the quality of the 2024/XXI Aceh-North Sumatra National Sports Week (PON).Chairperson of Central KONI, Marciano Norman, signed a memorandum of understanding (MoU) with the Korean company’s CEO, Lee Scott, at its office in Mapo Daero, Mapo-Gu, Seoul, South Korea, on Wednesday. “I thank you for your cooperation. We seek to improve the organizing quality, whether in terms of the games management system (GMS), games result system (GRS), timing and scoring, integration system, and others in Indonesia,” he said in a written statement released on Wednesday. “With this quality improvement, Indonesia will have bigger opportunities to become the host of international championships, both single and multi-branches,” he added. Under the cooperation, which will focus on the 2024 PON, the South Korean company will provide support in terms of information technology implementation so that participants at the biggest sports event in Indonesia will receive accurate information on various aspects. CLOIT is a technology company with an experience of more than 35 years in supporting world-class sports competitions such as the Olympics, Asian Games, World Cup, and Universiade. The company’s CEO promised to cater to the demands of the 2024 PON as best as he can, as it will be the first PON to be jointly held in two provinces and will be participated by 38 provinces. Everything can be prepared according to the need or applicable requirements, and CLOIT is ready to provide the best service, manager, business global sports, at the company, Tom Lee, said. In Indonesia, CLOIT will be supported by a local partner, PT SIMS. The cooperation is expected to produce a transfer of experience and knowledge so that, in the future, Indonesia will have a company with a similar capability as CLOIT.

Source: Antara News Agency

Ministry pursues education, training to improve marine human resources

We truly expect that there will be some collaboration in the preparation of human resources to support the blue economy, which will surely benefit (others) Jakarta (ANTARA) – The Maritime Affairs and Fisheries Ministry is working to improve human resources in the sector using several strategies ranging from formal education to training.The ministry’s Agency for Maritime Affairs and Fisheries Research and Human Resources (BRSDM) has been renamed the Agency for Maritime Affairs and Fisheries Human Resources Education and Development (BPPSDM KP). “This transformation marks the commitment of BPPSDM in creating great maritime affairs and fisheries human resources for the blue economy, which is being pursued through many aspects such as education, training, competency development,” head of the agency, I Nyoman Radiarta, said in a statement received on Wednesday. He informed that all the measures in question have been integrated into two strategic programs — Vocational Goes to Actors (VOGA) and Smart Fisheries Village (SFV). Human resources are key for the successful development of the maritime affairs and fisheries sector. He referred to data from the 2022 Global Innovation Index, which showed that Indonesia ranked lower than China, even Malaysia, in terms of institution, human capital, research, infrastructure, market sophistication, business sophistication, technology knowledge and output, as well as creative output. “To create qualified, certified, and professional (human resources), we also highlight collaboration with our partners in the education sector in developing human resources’ capacity, research, and community service in maritime affairs and fisheries sector, developing higher education in maritime and fisheries (science), and support for higher education,” he elaborated. The dean of the Fisheries and Marine Science Faculty at Diponegoro University, Tri Winarni Agustini, said she expects the university to take part in efforts to pursue blue economy progress. “We truly expect that there will be some collaboration in the preparation of human resources to support the blue economy, which will surely benefit (others),” she added.

Source: Antara News Agency

Nusantara development must involve locals: IKN Authority

Jakarta (ANTARA) – Sustainable development special staff at the Nusantara Capital City (IKN) Authority, Diany Sadiawati, has underlined the importance of involving locals in making the new capital’s development a success.”The involvement of locals is very important for the success of Nusantara,” she stressed in a statement issued on Wednesday. People’s involvement can be ensured through education and initiatives that promote sustainable practices, conservation efforts, environmental management, and ecotourism that can help create a sustainable economy for the locals, she explained. Nusantara has also adopted the multi-stakeholder partnership approach, which involves government institutions, the local community, business enterprises, civil societies, and academicians. This has been done to ensure the smoothness of Sustainable Development Goal (SDG) implementation, she explained. “Collaboration and partnership is an important modality to ensure a comprehensive and thorough implementation approach,” she said. The IKN Authority (OIKN) is also cooperating with international organizations to develop the basis for a biodiversity and conservation strategy that can serve as a guideline in Nusantara IKN’s development. OIKN’s participation in the UN Economic and Social Council (ECOSOC) High-Level Political Forum on Sustainable Development (HLPF) 2023 is an effort to connect with the global movement to harmonize urban development with SDGs. The forum is being held from July 1020 at the UN Headquarters, in New York, the United States. The world-level meeting is being attended by delegations from 196 countries. seminar entitled “Driving Changes at the Local Level: Innovative Approaches to Localize the SDGs” was held as part of the forum by the Indonesia delegation on July 17, with organizing support from the United Nations Development Programme (UNDP) and United Cities and Local Governments (UCLG).

Source: Antara News Agency

Elections to ensure people decide leadership succession: Mahfud MD

There are indeed political ploys or intrigues in the election process Jakarta (ANTARA) – Coordinating Minister for Political, Legal, and Security AffairsMahfud MDhas said that the general elections are meant to ensure that the succession of leadership in Indonesia is determined by the people.”What is the purpose of the election? It is to implement or ensure leadership ‘circulation’ determined by the people themselves,” he explained here on Tuesday evening. “The country’s direction should be determined by the way of the people, by the people, and for the people and not of the people, by the oligarch, and for the elite,” he emphasized. Elections reflect Indonesia’s democracy, and it is hoped that the upcoming general election in 2024 can proceed peacefully, smoothly, and with integrity, he said. “There are indeed political ploys or intrigues in the election process. It is fine as long as it is not causing division and it does not disrupt our national system,” he added. He stressed that residents should accept whoever wins in the general election and pursue legal means if they are not satisfied with the election results. “If they are discontented, we have the Constitutional Court. But we hope the number of (election-related) lawsuits decided by the Constitutional Court is not too high,” Mahfud said. The minister also expressed the hope that the electoral organizers, such as the General Elections Commission (KPU) and General Election Supervisory Board (Bawaslu), can perform their duty well in 2024. “We hope the KPU can perform their duty well to ensure (election) freedom and smoothness, and Bawaslu supervises the election conduct,” he said. Indonesians will vote for the new president on February 14, 2024. On the same day, they will also cast their votes for House of Representatives (DPR) legislators, Regional Representative Council (DPD) senators, and province-, city-, and district-level legislature members.

Source: Antara News Agency

BPJS Kesehatan pursues outreach program in Papua to improve coverage

Pesiar program is a strategy by BPJS Kesehatan for extending the coverage of active participants of the national health insurance program Jayapura, Papua (ANTARA) – The Health Social Security Agency (BPJS Kesehatan) is consistently pursuing an outreach program in Papua to ensure national health insurance coverage in remote and border areas of the region.Head of the Papua branch of the Health Social Security Agency, Deny Jermy Eka Putra Mase, said that the outreach program, dubbed ‘Pesiar’ (a portmanteau word formed from mapping, advocacy, and registration) aims to reach people in remote and border areas who have yet to be informed about the insurance. “Pesiar program is a strategy by BPJS Kesehatan for extending the coverage of active participants of the national health insurance program,” he explained. He said that his administration is collaborating with village leaders to match civil registration data with the health insurance participant list, which will be followed by data integration. “Generally, the national health insurance has two types (of services), the first being participants’ administrative services, information, and reports; and the second is healthcare services for the national health insurance’s participants,” Mase pointed out. Hence, in the momentum of BPJS Kesehatan’s 55th anniversary, his administration has expressed its commitment to consistently pursue just, effective, efficient, and affordable services, he pointed out. “We are committed to improving the quality of services (through) transformations and innovations so as to facilitate better access, efficient services, and fair medical services in all corners of Papua,” he added. ccording to the President Director of BPJS Kesehatan, Ali Ghufron Mukti, the national health insurance program has successfully maintained its “normal without modification” audit result 31 consecutive times, in accordance with the audit standards set by the national public accountant institute. “This achievement shows that the monetary condition in BPJS Kesehatan, financial performance, and cash flow has met the standards of national financial accounting standards, according to the audit result of the public accountant office,” he added.

Source: Antara News Agency