Silvia Lagnado Leaving Bacardi

CMO Departing Liquor Company to Pursue Other Interests

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Bacardi Limited Chief Marketing Officer Silvia Lagnado is leaving the liquor company.

Silvia Lagnado
Silvia Lagnado

"We thank Silvia for her contributions and dedication to the company and wish her every success," CEO Ed Shirley said in a statement. The company said Ms. Lagnado would depart "over the next few months to pursue other interests" and that "a replacement will be announced in due course."

At the same time, the company announced the promotion of Dmitry "Dima" Ivanov to senior global category director of rums, where he will be responsible for "developing the global rum strategy to drive our rums to the next level -- including all brand equity, architecture, positioning, advertising, brand communications, packaging, and strategic direction on innovation for the category and brands." Mr. Ivanov most recently was managing director for the Bacardi brand in Russia. The global role was previously held by Eugenio Mendez, who left the company in August.

Bacardi recently launched an agency review for global creative duties for its flagship rum brand. The brand had been handled by WPP's Johannes Leonardo, New York.

Bacardi is the top rum brand in the world, but sales volume only grew 1.5% in 2011, according to a report by Drinks International and Euromonitor International, which measures sales of 9-litre cases. Diageo's Captain Morgan, by contrast, grew 2.2% and ranks fourth, trailing Tanduay (up 1.9%) and McDowell's No.1 Celebration (up 12.5%). "Bacardi's eponymous rum brand continues to be the global leader in the sector but its growth was weak, remaining below its 2007 level," the report stated. "The brand suffers from overexposure in its core markets of North America and western Europe, where it is struggling to maintain volumes, let alone grow them."

Ms. Lagnado's departure comes months after Mr. Shirley joined the company. The former Procter & Gamble executive took the reins in March.

Ad Age recently named Ms. Lagnado as one of the 100 most influential women in advertising. She came to Bacardi in 2010 from Unilever, where she was best known for approving Dove's landmark "Campaign for Real Beauty." The campaign broke barriers in 2004 with its frank portrayal of average women as beautiful.

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