Cott completes CEO search, names Frank Weise to post on June 12. Weise most recently ran Confab, producer of private label feminine care products. Weise succeeds Gerry Pencer, who died of cancer on Feb. 3. In long consumer products career, Weise spent 25 years at Procter & Gamble. Joined Campbell Soup in 1992 as CFO. Then became head of Campbell's Pepperidge Farm unit. Left Campbell in late 1996 "after being passed over for a possible shot at running the company," according to Wall Street Journal. In June 1997, Weise named chairman of Confab; Confab sold in April 1998. At time, Confab supplied Wal-Mart.

Plus. Thomas H. Lee investment firm agrees to invest US$110 mil in Cott securities. Lee will purchase 10 mil shares of Cott from Pencer for $7 per share; also obtains option to acquire 5 mil additional shares from Pencer family at $9 per share. Plus, Lee purchases directly from Cott $40 mil convertible preferred shares. Assuming exercise of option on Pencer family shares plus conversion of preferred, Lee owns 30% of Cott.

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