Australia-based beverage company Foster's Group Limited (ASX:FGL) today announced that Chief Financial Officer Angus McKay has submitted his resignation to join ports and rail operator Asciano Group (ASX:AIO) .

Mr McKay, who joined Foster's in 2004 from Fonterra Australia and was Finance Director, Foster's Australia, Asia and Pacific, before taking up the CFO role in January 2008, will leave the beverage company towards the end of this year.

He will immediately take the role of CFO at Asciano.

"Angus has made a big contribution to Foster's since joining the company in 2004", said Foster's Chief Executive Ian Johnston.

"As Finance Director for our Australian beer and wine business and later, Group CFO, Angus has played an important role over last six years and we wish him success in his new position."

A selection process is now underway for his replacement.

Meanwhile, Asciano managing director Mark Rowsthorn said in a statement on Thursday that Mr McKay's appointment was the result of an extensive search process.

"His current position as CFO of a top 50 ASX company and his 23 years experience in finance makes him a perfect candidate for this important role within Asciano."