Anheuser Busch InBev managers will take all but one of 19 key positions following the brewer’s more than $100bn (€118bn) takeover of rival SABMiller, according to details of the transaction announced yesterday.
The deal, sweetened last week to help make up for a drop in the British currency, has been approved by both companies’ boards but still needs to be voted on by shareholders, some of whom oppose the deal.
AB InBev is known for its cost-cutting and centralised control, which some analysts have said may be tough to impose on all corners of SAB’s business, with its joint ventures and equity stakes in markets such as Turkey and Africa.
AB InBev, the maker of Budweiser and Stella Artois, said the new company – which has yet to be named – would continue to be based in its home town of Leuven, Belgium, while its operations would be managed from New York.
SAB’s offices in Woking, outside of London, will be kept open for a transitional period, but its central London headquarters will be wound down. The bulk of SAB’s European businesses are being sold as part of the deal. “It looks as if all the SAB group and regional HQs will be eventually phased out,” said Bernstein Research analysts.
The new company will be run by teams of “functional chiefs” and “zone presidents”, both reporting to AB InBev chief executive Carlos Brito. All but one will go to current AB InBev executives. There was no mention of roles for SABMiller’s ceo Alan Clark or finance chief Domenic De Lorenzo in the new company.
AB InBev will sell brands Peroni, Grolsch and Meantime, to Japan’s Asahi, with more sales planned. (Reuters)
By Martinne Geller
Source: Reuters
Braun currently serves as EVP and president for international development, overseeing the company’s operating units for Latin America; Japan and South Korea; ASEAN and South Pacific; Greater China and Mongolia; Africa; India and Southwest Asia; and Eurasia and Middle East.
Thompson brings over 35 years of experience in the consumer packaged goods industry, with a strong background in sales, marketing and general management. Before joining Nestlé, he served as CEO of Ghirardelli Chocolate Company and held leadership roles at Clorox Company and Procter & Gamble.
Mondelez International has named Volker Kuhn executive vice president and president of its European division, effective April 1, 2025. Kuhn will replace Vinzenz Gruber, who is set to retire on April 1, 2025. In these new roles, Kuhn will report directly to Dirk Van de Put, chairman and chief executive officer of Mondelez.
