AB InBev to replace N. American chief executive

LONDON/BRUSSELS: The world’s biggest brewer, Anheuser-Busch InBev, is replacing its North American chief executive officer (CEO) to stem a years-long sales decline in its largest market.

The maker of Budweiser and Bud Light said on Monday that Joao Castro Neves would be succeeded on January 1 by another Brazilian company veteran, Michel Doukeris, currently chief sales officer of the global business.

“Neves had been viewed as a potential successor to Brito. If Doukeris can deliver on growth in the US, this would boost his chances for the top spot,” said a Jefferies analysts.

Other contenders identified by the analysts are David Almeida, chief integration officer and Ricardo Tadeu, president of African operations.

Brito said it was too early to speculate on CEO succession.

“It’s up to the board to make that decision. But for me, I’ve been here 20-plus years and I’ll be here another 20.”

Brito said he had discussed the departure of Neves with him for nearly a year and that it was a “personal decision.”

Doukeris, a 44-year-old Brazilian citizen with Greek heritage, last year moved his family to New York, the de facto headquarters of what is one of Europe’s biggest companies with a market value of about US$200 billion (RM838.16 billion).

The biggest challenge in the coming years will be to lift sales in the US, where Bud Light is the largest brand with 19 per cent of the market but has been in steady decline alongside mainstream lager rivals as US consumers increasingly embrace wine and spirits. Reuters