STZ - Constellation Brands veteran Sands to step down as chairman
2023-07-06 16:57:44 ET
Alcoholic beverage conglomerate Constellation Brands ( NYSE: STZ ) said Thursday that Rob Sands, who has served at the helm for over 16 years, will retire as chairman of the board.
The company said Sands will not stand for re-election after its annual stockholder meeting on July 18, 2023.
Constellation has begun its search for a new board chair and expects to provide an update after its annual meeting.
Sands will, however, continue as a board member.
STZ stock is up 11.8% so far this year, as per its last close of $252.59.
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Constellation Brands veteran Sands to step down as chairman