Sandstrom resigns as Angostura CEO

PETER SANDSTROM will no longer be CEO of Angostura from September 30, the company announced on Thursday.

Sandstrom resigned from Angostura, citing unforeseen family matters, which require his "immediate and sustained presence in the United Kingdom."

Angostura, in a media release on Thursday, said the company accepted his resignation and wishes him and his family well during these challenging times.

Ian Forbes, Angostura's Chief Operating Officer, will act as CEOof Angostura Holdings Ltd with effect from September 30, in addition to his substantive duties.

Sandstrom is no stranger to the global spirits industry, having served in executive roles at Diageo and  before his appointment at Angostura, was CEO of Harviestoun Brewery in Scotland.

His appointment as Angostura CEO came after the resignation of former CEO Genevieve Jodhan after two separate financial audits regarding suspected breaches of procurement policies of the company.

Investigations centred on the award of contracts to entities without approval from the board of Angostura. Those three entities were said to be connected to a senior member of the police service. The probe was done by international audit group PriceWaterhouseCoopers (PwC).