Distil (AIM:DIS), the AIM-listed owner of RedLeg Spiced Rum, Blackwoods Gin and Vodka, and Blavod Black Vodka, announced board changes on Thursday as it plans its next phase of growth.
Don Goulding will retire as Executive Chairman on 14 August, splitting his role between a new Non-Executive Chairman and a full-time chief executive for the first time.
Philip Naughton, who joined the board as a non-executive director in February, becomes Non-Executive Chairman from 14 August.
David Smith is proposed to join as CEO from 17 August, subject to the nominated adviser's due diligence process.
Goulding joined Distil's board in 2010 and became Executive Chairman, overseeing the creation of RedLeg Spiced Rum, the Company's passage through the Covid-19 pandemic, its investment in Ardgowan Distillery and a recent production and distribution partnership.
Smith brings more than 25 years in drinks, including spells at Diageo and the West Indies Rum Distillery, and led Fielden Whisky through two angel funding rounds before a 2022 merger that secured investment from Diageo's Distill Ventures.
"This is the right time for me to step aside," Goulding said, pointing to a market recovery and a new strategic production partner now in place across UK and export markets.
The Company said a further announcement on Smith's appointment will follow once due diligence is complete.
