Suntory Beverage & Food Oceania CEO Darren Fullerton has announced he is retiring in 2025.

Fullerton joined Suntory in 2020 following CEO roles at PepsiCo and Winc and Suntory Oceania described him as being “instrumental to the growth and evolution of the business into a dynamic beverage player across Australia and New Zealand”.

Most recently, in partnership with Suntory Global Spirits Oceania Managing Director Mark Hill, Fullerton was instrumental in creating the fourth-largest ANZ beverage group in Oceania, with full end-to-end control of its portfolio, including manufacturing, sales, and distribution.

The $3 billion multi-beverage partnership across the premium spirits and non-alcohol segments in both Australia and New Zealand will launch in mid-2025 with 40 brands in its portfolio, including  Jim Beam, Canadian Club, Makers Mark, Suntory -196 and the iconic House of Suntory.

It includes the construction of a new $400 million, net zero facility in Ipswich, Queensland, the largest single FMCG investment in Australia in over a decade.

“Working at Suntory for the past five years has been a career highlight. Being part of an organisation that aligns so closely with my values and unlocking the potential of our Oceania business has been an incredible privilege,” said Fullerton.

“The creation of Suntory Oceania firmly positions the business for a strong and successful future, built on a foundation of Suntory’s ambitious ‘Yatte Minahare’ spirit.

“I know the team will continue to thrive and I look forward to supporting the business in an advisory role.”

Suntory Beverage & Food President Makiko Ono said: “Darren has been an extraordinary leader, driving growth, innovation, and a culture of excellence in Oceania.

“He has lived the One Suntory mindset and set a benchmark for our future global business.”

Fullerton will stay with the company until the end of March to lead the final stages of the creation of the new company.