Boston Beer CEO to step down
Boston Beer Company CEO Michael Spillane will step down from his role at the US brewer after just over a year.
In a statement late on Friday (1 August), the maker of Samuel Adams and Twisted Tea said Spillane is leaving his position to “focus on important personal matters”.
Jim Koch, Boston Beer’s founder and chairman, will return as CEO. He was chief executive from 1984 to 2001.
Spillane took over in April 2024 from Dave Burwick. He will remain on the Boston Beer board as a non-executive director. Spillane has been a director at the Angry Orchard cider owner since 2016.
According to Koch, Spillane offered a “steady leadership hand during a dynamic time for our industry, and under his guidance, we delivered one of our most profitable quarters in many years in the second quarter”.
The brewer’s net revenue increased 1.5% to $587.9m in the second quarter ending in June. Net income reached $60.4m, up 15.5% year over year.
Koch said Spillane is “going to continue to help shape our strategy as a member of our board of directors”.
He added: “I am confident in the strength of our management team and Boston Beer’s strategic direction and remain committed to delivering long-term value.”
Spillane said: “After careful reflection, I have decided to take a step back to focus on some important personal matters. Since joining Boston Beer, I have seen the company revolutionise the craft beer and flavoured malt beverage categories.”
Alongside its second-quarter results, the company said it anticipates lower volumes in 2025 due to “macroeconomic factors impacting industry demand”.
“Boston Beer CEO to step down ” was originally created and published by Just Drinks, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
