March 24/Toronto/Market Wire -- The board of directors of Cott Corporation announced the appointment of David T. Gibbons as interim CEO, effective immediately.

"Cott is a terrific company with great people and retail partnerships much like the companies I've worked with during my career. The board has asked me to stay committed to the company's existing strategy, which calls for continued focus on our core retailer-branded CSD business while pursuing new products and channels that reflect the changing consumer landscape. Over the past two years we've streamlined our manufacturing operations and invested in noncarbonated beverages. I plan to continue those programs while redoubling our efforts to ensure the success of our retail partners in maximizing the profitability of their beverage category sales" said Gibbons.

Gibbons, was appointed to Cott's board of directors in March 2007. From 2000 to 2006, he was president and chief executive officer of Perrigo Company, and also held the role of chairman from 2003 to November 1, 2007. Perrigo is the world's largest manufacturer of over-the-counter pharmaceutical products for the store brand market with $1.6 billion in sales and more than 6,000 employees globally and a market capitalization of $3.5 billion. Prior to joining Perrigo, Dave served in a variety of executive, general management, sales and marketing positions with leading consumer packaged goods companies in Asia, Europe and the United States.

"Dave is a very seasoned business leader," said chairman Frank Weise. "His knowledge of private label and relationships with our customers will be invaluable. The internal challenges that we have experienced in no way negate our strategy, our industry position, or our potential for growth and success."

From the March 31, 2008, Prepared Foods e-Flash