This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Brown-Forman Announces Retirement Of Don Berg; Jane Morreau To Become CFO In 2014

Brown-Forman Corporation announced today that Chief Financial Officer Don Berg is retiring from the company at the end of the current fiscal year, April 30, 2014. He will hand off his duties as CFO to his successor on January 31, 2014 and will assist in the orderly transition of the CFO responsibilities through his retirement date.

“Don’s leadership of the company’s financial operations as CFO over the last six years can be measured simply by viewing the company’s results over that period,” said Brown-Forman Chief Executive Officer Paul Varga. “During a period of great global economic instability, Brown-Forman performed at the top of the global spirits industry and generated superb total shareholder returns. Don and his team were a major factor in these results and we thank him.”

Berg served in a variety of leadership roles during his 25 years with the company, including leading the company’s first emerging markets organization (then known as the Advancing Markets Group). He also led the company’s spirits business across the Americas, and oversaw corporate development, corporate strategy, and corporate finance before becoming chief financial officer in 2008.

As part of this transition, Brown-Forman also announced that Jane Morreau has been named to succeed Berg as executive vice president and chief financial officer, effective February 1, 2014.

“"With over 20 years of business and financial experience at Brown-Forman, Jane is well prepared to become our new CFO,” stated Varga. “She has a deep and broad knowledge of our business and very strong analytical skills. Alongside this, she is highly committed to leadership development and I am confident Jane will build on Don’s and the company’s reputation for financial excellence.”

Morreau has been with Brown-Forman for over 22 years, most recently in a leadership developmental assignment as senior vice president and chief production officer. Prior to becoming chief production officer early this year, she was SVP, chief accounting officer and director of finance, accounting and technology, where she directed the financial management of the company’s sales, marketing, production, and technology functions. Morreau was also Berg’s most senior direct report throughout the first five years of his service as CFO. Before joining Brown-Forman, Morreau spent over 11 years at Kentucky Fried Chicken Corporation (now known as YUM! Brands). She is a CPA and earned both a bachelor’s of science degree in commerce, with a major in accounting, and an MBA from the University of Louisville.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,812.19 +19.51 0.11%
S&P 500 2,089.14 +2.55 0.12%
NASDAQ 5,102.8080 +0.33 0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs