Cott Corporation’s board of directors announced this morning
that board member David T. Gibbons will take over as interim CEO after Brent
Wills stepped down.
The Wall Street
Journal reported that Gibbons – who joined the Cott board in March of 2007 –
previously served until 2006 as president and CEO of Perrigo Co., a maker of
store brand pharmaceuticals.
Cott gave no reason for Mr. Will’s departure, but the
company’s stock plummeted last month after Wal-Mart announced that they would
be reducing shelf space available to the Cott-produced Sam’s Choice store brand
beverage in favor of name-brand lines.