DOW JONES NEWSWIRES 
 

The head of Constellation Brands Inc.'s (STZ) international business will leave the company at the end of the month on slumping sales at its U.K. and Australian businesses and a company streamlining, the company said Friday.

The company, which produces premium wines, cut its forecast in March for the current fiscal year after seeing weaker-than-expected demand over the holidays in Europe and Australia in contrast to the U.S., where the wine market has continued to grow.

Jon Moramarco was appointed as chief executive of Constellation International in January 2007, a new position at the time. That job is being eliminated due to a review of the international operations. He had joined the company from the U.S. unit of Allied Domecq Wines PLC (AED) in 1999.

Chief Executive Rob Sands said, "We anticipate significant benefits from a leaner and more flexible international organization."

Other moves include Paul Hetterich overseeing the international business of Constellation's European, Australian and New Zealand operations. He will remain in charge of leading the company's acquisition-and-divestiture and strategic-planning efforts. The company has bought and sold a number of brands in recent years.

Shares were up 4 cents premarket to $12.46 amid a broad market rally.

-By Tess Stynes, Dow Jones Newswires; 201-938-2473; tess.stynes@dowjones.com