Bacardi has named a 25-year veteran of the spirits and wine industry its new president and chief executive officer of Bacardi U.S.A., Inc. and the North American Region.

John Esposito, 58, takes over from Eduardo M. Sardi?a, after almost seven years as president and chief executive with Mo?t Hennessy USA.

Mr. Esposito actually joined that company in 1992 when it was called Schieffelin & Somerset.

During his tenure he handled the sales and marketing of a portfolio that includes Mo?t & Chandon, Dom Perignon, Hennessy Cognac, Grand Marnier and Belvedere Vodka. He was previously a vice president of national sales with W.A. Taylor, a subsidiary of Hiram Walker Inc., and later president of Premier Beverage Company in Miami, where he worked directly with Bacardi. He began his career more than two decades ago as a retailer working in his family?s New York liquor store. ?Bacardi is a company of premium products and John Esposito understands how to manage premier brands from his exceptional experience managing other top-tier brands in the industry.

?He is the kind of engaging, thoughtful and inspiring executive to take Bacardi U.S.A. and the North American Region to a new level of excellence,? said Andreas Gembler, president and CEO of Bacardi Limited.

?This new challenge is exciting for me and one which I expect will take me on a path of superb growth, both personally and professionally,? said Mr. Esposito. ?Bacardi is a dynamic company with highly capable leadership and employees, an outstanding portfolio of brands and strong momentum in the marketplace. I look to accomplish even greater things in the future.?

Industry experts see the addition of seasoned outside executives like Mr. Esposito as a key addition to Bacardi.

?If you can borrow knowledge from the competition it strengthens your enterprise,? Tom Pirko of Bevmark, an industry consultant told the Miami Herald.

?Bacardi is heading in the right direction, but they?re not there yet.?

Bacardi Limited is the largest privately held spirits company in the world.

Speculation continues over whether Mr. Gembler ? who only took over the top post a year ago after serving on Bacardi?s board of directors ? will take Bacardi public. Bacardi?s shareholders gave the approval to issue shares in a public offering in 2004, but the board has yet to make any moves in that direction.

Mr. Gembler also praised Mr. Sardi?a, who is retiring after 33-years with the company, for his successful leadership of the company in growing market share, developing flagship brand extensions and integrating strategic acquisitions.

During his tenure, he added key brands including Grey Goose and Bombay Sapphire.

He will continue to consult for the company after his retirement next month.

He is also a member of Bacardi?s board of directors and a major shareholder. His wife, Anne, is the daughter of Eddie Nielsen, the great-grandson of Bacardi founder Don Facundo Bacard? Mass?, who created the company in 1862 in Santiago de Cuba.