Davidoff appoints new president for North America

Basel/Switzerland, July 14th 2011. The President and Chief Executive Officer of
the Oettinger Davidoff Group, Hans-Kristian Hoejsgaard, announced today the
appointment of James (Jim) Young, as the new President North America of
Davidoff of Geneva Distribution, Inc. effective September 1st.

After 11 years at the helm of Davidoff’s US Operations, Peter Baenninger,
will relocate to corporate headquarters in Basel, Switzerland, to take up a new
role as Head of Global Retail effective January 1st 2012.

Hans-Kristian Hoejsgaard says: “I am delighted to welcome Jim to Davidoff at
this exciting time for our company. The US is of critical importance to our
strategic growth plans and Jim is uniquely suited to lead our businesses in the
future. With his broad, cross functional, US and international experience, I am
convinced he will only add to his track record of success. Our strong portfolio
of Davidoff, AVO, Camacho, Cusano, Griffin’s, Zino Platinum and Winston
Churchill is a compelling platform for Jim and the team to take our US
business to the next level”.

Mr Hoejsgaard continues: “It is Peter’s success in building our retail stores in
the US that makes him ideally positioned and particularly qualified to take on
this new and important global retail role”.

Jim Young was most recently President Guinness USA and prior to that he was
with Diageo in London. From 1985-2001 he was with Joseph E. Seagram &
Sons in a range of senior Finance and General Management positions in the
US, Asia and Europe, lastly as General Manager Seagram Spain & Portugal.
Jim holds an MBA in Finance & Accounting from Columbia University and a BS
with highest honors in Marine Transportation from the U.S. Merchant Marine
Academy.

The CHF 1.3 billion Oettinger Davidoff Group with almost 4,000 employees
around the world, traces its roots back to 1875 and remains family owned to
this day with two distinctly different businesses: one that is focused on FMCG
distribution in the Swiss market and one dedicated to the core business of
producing, marketing and retailing premium branded cigars, tobacco products
and accessories. The premium branded cigar business include Davidoff, AVO,
Camacho, Cusano, Griffin’s, Private Stock, Zino, Zino Platinum and Winston
Churchill Cigars. The Oettinger Davidoff Group is anchored in a strong “cropto-
shop” philosophy, having pursued a vertical integration from its tobacco
fields in the Dominican Republic and Honduras to its world wide network of 65
flagship stores.

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