MT. LAUREL, N.J., Jan. 16, 2013 /PRNewswire/ -- Central European Distribution Corporation (NASDAQ: CEDC) announced today that it has appointed Vladimir Filiptsev as CEO of Russian Alcohol Group, a CEDC subsidiary. Mr. Filiptsev, a seasoned FMCG professional, has joined Russian Alcohol from Roust Inc., the Russian spirits distribution company of Russian Standard, where he had been CEO since 2011. Prior to Roust Inc., Mr. Filiptsev held senior marketing and sales positions in Russia at SABMiller, Progress and Wrigley. Mr. Filiptsev began his career at Coca-Cola, where he worked from 1992-1999. Grant Winterton, CEO of CEDC, commented , "Vladimir's global and local brand expertise in Russia's competitive consumer sector will be a tremendous asset to Russian Alcohol Group, as the company charts an exciting new path of growth. Vladimir has six years' experience in the vodka and alcohol segment, strong knowledge of sales and marketing and a proven ability to build premium alcohol brands. In addition, Vladimir's experience at Roust Inc. will be beneficial to CEDC in light of the strategic alliance with Russian Standard, the owner of Roust Inc."About Central European Distribution CorporationCEDC is one of the largest producers of vodka in the world and Central and Eastern Europe's largest integrated spirit beverage business. CEDC produces the Green Mark, Absolwent, Zubrowka, Bols, Parliament, Zhuravli, Royal and Soplica brands, among others. CEDC currently exports its products to many markets around the world, including the United States, England, France and Japan. CEDC also is a leading importer of alcoholic beverages in Poland, Russia and Hungary. In Poland, CEDC imports many of the world's leading brands, including Carlo Rossi Wines, Concha y Toro wines, Metaxa Liqueur, Remy Martin Cognac, Sutter Home wines, Grant's Whisky, Jagermeister, E&J Gallo, Jim Beam Bourbon, Sierra Tequila, Teacher's Whisky, Campari, Cinzano and Old Smuggler. CEDC is also a leading importer of premium spirits and wines in Russia with such brands as Concha y Toro, among others. About Russian Standard CorporationRussian Standard Corporation is one of Russia's most successful private companies with business interests in premium vodka, spirits distribution, banking and insurance. Russian Standard Vodka is the global leader in authentic Russian premium vodka and the only Russian global brand with sales in over 75 markets around the world. Its 2012 sales exceeded 2.9 million 9-liter cases. Roust Inc. is one of Russia's leading premium spirits distributors, representing such well-known brands as Gancia, Remy Martin, Metaxa, St Remy, Cointreau, Jagermeister, Molinari, Whyte & Mackay, and Dalmore. In 2011, Russian Standard acquired a 70% stake in Gancia SPA, the legendary Italian wine-making company that created the first Italian sparkling wine. With 2000 hectares of vineyards, 5 million kilograms of grapes vinified, Gancia produces around 25 million bottles of sparkling wine, wines and aperitifs each year. Russian Standard Bank is the largest privately owned financial institution in Russia and is a leader in the Russian consumer finance market, including consumer loans and credit cards. Since 1999 the Bank has been setting new standards in consumer banking, with over 25 million clients, over US$45 billion in loans granted and 35 million credit cards issued. Russian Standard Bank is the exclusive issuer and service provider for American Express and Diners Club International cards in Russia. Russian Standard Corporation has over 19,000 employees working in offices in Moscow, St Petersburg, New York, Paris, London and Kiev. The total assets of Russian Standard Corporation exceed US$5 billion. Cautionary Statement about Forward-Looking InformationThis press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements about the expected effects of CEDC management changes announced. Forward looking statements are based on our knowledge of facts as of the date hereof and involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of CEDC to be materially different from any future results, performance or achievements expressed or implied by our forward looking statements. Investors are cautioned that forward looking statements are not guarantees of future performance and that undue reliance should not be placed on such statements. CEDC undertakes no obligation to publicly update or revise any forward looking statements or to make any other forward looking statements, whether as a result of new information, future events or otherwise, unless required to do so by securities laws. Investors are referred to the full discussion of risks and uncertainties included in CEDC's Form 10-K/A for the fiscal year ended December 31, 2011, filed with the SEC on October 5, 2012, including statements made under the caption "Item 1A. Risks Relating to Our Business," and in other documents filed by CEDC with the United States Securities and Exchange Commission. Contact Anna ZałuskaCorporate PR ManagerCentral European Distribution Corporation 48-22-456-6061
Central European Distribution (Nasdaq:CEDC) hit a new 52-week low Thursday as it is currently trading at $2.73, below its previous 52-week low of $2.75 with 347,910 shares traded as of 11 a.m. ET. Average volume has been 915,600 shares over the past 30 days.