Emperador Inc. has brought in fresh leadership to steer it through intensified investments in its premium liquor brands, even as its whisky segment faces headwinds from softening global demand.

Tan’s trusted lieutenant Winston Co has assumed the posts of chairperson and president, a move that underscores the liquor conglomerate’s renewed focus on long-term strategic growth.

Co has served as director and president since 2013 and led Emperador Distillers Inc. since 2007, now takes over from tycoon Andrew Tan, who steps back to serve as chairman emeritus.

The shakeup comes at a pivotal time as Emperador, known for its premium Scotch whisky labels, is ramping up capital spending despite challenges in its key international markets.

“We are seeing a slowdown in the whisky business across the world: in North America, in China, and even in Europe,” Co said during the company’s annual stockholders’ meeting held remotely on 9 June 2025.

“The market has become very competitive... but we believe that this is cyclical.”

The slowdown, he noted, is particularly impacting the premium and high-end Scotch whisky segment. Nonetheless, Emperador remains bullish, citing continued strength in single malt whisky sales and anticipating a rebound in global consumption by 2026.

Amid the challenges, the company is investing P4 billion this year, most of which is earmarked for its whisky operations.

The expansion of the Dalmore distillery in Alness, Scotland is nearing completion and is expected to double production capacity while introducing a new visitor experience.

Key liquor complex expanding

Simultaneously, the whisky maturation complex at Emperador’s Invergordon distillery is undergoing a major expansion, increasing its footprint from 45.4 hectares to 92 hectares and adding capacity for 1.5 million more casks.

“These efforts will ensure the capability of the whisky business to meet greater global demand,” Co said.

Emperador is also eyeing India as a promising growth market following a 50 percent reduction in whisky import duties there.

“All players are positioning to capitalize on this opportunity and we are working with our distributors in India,” Co noted.

The boardroom reshuffle also saw the entry of key industry figures. Longtime Ayala executive and former Cabinet Secretary Rene Almendras joins Emperador Inc. as an independent director. Katherine Tan, meanwhile, was also appointed to the seven-member board.

Glenn Manlapaz has been named chief executive officer, and Kendrick Andrew Tan was elected executive director.

Despite current global challenges, Emperador projects steady growth in the years ahead.

“Looking at five years from today, we are very excited,” Co said. “We believe that the global business will continue to grow next year.”