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October 26, 2011
Isaac Sheps to become CEO of Baltika Breweries and SVP of Eastern European region

Carlsberg Group is pleased to announce it has appointed Dr.Isaac Sheps, currently CEO, Carlsberg UK, to take over the leadership of Baltika Breweries (Baltika), the Group's significant Russian business.

Sheps will also be responsible for Carlsberg's operations across Eastern Europe. Sheps will start on 1 December and will replace Anton Artemiev, the current CEO of Baltika and SVP Eastern Europe, who continues as a member of the Baltika Supervisory Board.

Commenting on this announcement, Jorgen Buhl Rasmussen, CEO Carlsberg Group, said:  Anton Artemiev and his management team have developed Baltika into a clear market leader within the industry and, despite challenging market conditions, Baltika is in a good position to profit from the exciting growth opportunities that Russia has to offer.

Isaac Sheeps has a great track record at Carlsberg, both in South East Europe and the UK, and I am confident that his strong leadership skills; operational focus; and his diverse, international experience will serve us well at Baltika and across the Eastern European region”.

Sheps joined Carlsberg UK in October 2008 and has been successful in turning the UK business around to a point where it is has tripled its profits while growing market share from 13% to more than 15%, at a time when the UK beer market has been in decline. In 2010, the Carlsberg brand family became the largest off-trade beer brand in the UK. During his previous three years as CEO of Carlsberg in South East Europe, the business managed to premiumise mainstream brands, grow volumes by over 40%, increase average net sales/HL by over 30%, resulting in a five-fold increase in earnings.

Isaac Sheps added: “This is an exciting prospect and I look forward to ensuring that Baltika continues to deliver a very positive contribution to the Carlsberg Group”.

An announcement regarding the appointment of a new CEO for Carlsberg UK will be made as soon as possible. Jesper Friis, Senior Vice President, Western Europe, will act as the interim CEO.

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