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Mongolia|business|August 3, 2015 / 10:57 AM
Director of Mongolia's largest alcohol group resigns

AKIPRESS.COM - APU The wild and woolly ways of doing business and concerns about corporate governance have prompted Trevor O'Hoy to resign as a director of Mongolia's largest alcohol group APU after three years, Brisbane Times reports.

Closer to home, he's predicting the trends hurting mainstream brewers such as the firm he used to run (he's former Foster's Group chief executive) will accelerate.

O'Hoy became a director of APU, which makes the leading beer and vodka brands in Mongolia, in April 2012 but has bowed out after three years on the board, after becoming increasingly concerned at the levels of corporate governance in the country.

"I wasn't comfortable with it. It's a real pity," he said.

O'Hoy also said he had some misgivings about APU's corporate strategy as it started expanding into dairy products.

But one area where he has the utmost confidence is the craft beer market, which continues to accelerate and is causing serious headaches for the company he used to run. Foster's Group, which makes Victoria Bitter and Carlton Draught, was acquired in 2011 for $11 billion by SABMiller, which along with Japanese firm Kirin's Lion beer business is battling a mainstream beer market which is shrinking as drinkers turn more toward premium and craft beers.

O'Hoy has a small shareholding in Byron Bay-based craft brewer Stone & Wood, where he is also a director, and says it is thriving as the craft beer market booms.

"People are drinking less and they're drinking better," he says.

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