Constellation Brands announced a leadership transition plan where Nicholas I. Fink will succeed William A. Newlands as the company's President and Chief Executive Officer, effective April 13, 2026. Fink, who has served on Constellation's board since 2021, is currently the CEO of Fortune Brands Innovations. Newlands will step down as CEO and retire from the board on the effective date but will remain as a strategic advisor and consultant to ensure a smooth transition.
Key Details
- Incoming CEO: Nicholas I. Fink, age 51, will become President and CEO on April 13, 2026. His compensation includes a $1.4 million base salary, a target bonus of 160% of salary, and an annual equity award valued at $11 million.
- Outgoing CEO: William A. Newlands will serve as a strategic advisor through April 30, 2026, and then as a consultant from May 1, 2026, to December 31, 2026, for a total consulting fee of $1,200,000.
- Inducement Award: To compensate for forfeited equity at his prior employer, Fink will receive a one-time "Replacement Equity Award" consisting of 85,385 restricted stock units and 415,295 nonqualified stock options, vesting over three years.