Steve Fechheimer, who led New Belgium Brewing Company to unprecedented growth, will depart the company in August after six years to “explore new challenges.”
Fechheimer’s departure will wrap up a six-year tenure at the Fort Collins, Colorado-based craft brewery that saw its acquisition by Kirin-owned Lion Little World Beverages, a new record volume as the company pushed across 1.2 million barrels, Voodoo Ranger Imperial IPA becoming the top-selling IPA and the No. 2 best-selling craft beer in the U.S., and the biggest Year One craft beer launch of all time in Voodoo Ranger Juice Force IPA.
Asked why now was the right time to step aside, Fechheimer told Brewbound that it was important to him that any transition occur as the business was performing well but also at a time that was right for New Belgium, his co-workers and partners.
“With the stability of our growth and performance of the business, this felt like the right time for that to happen,” he said.
Danielle McLarnon, New Belgium’s CFO and a 19-year veteran of the brewery, will serve as interim CEO, starting August 1. As a search gets underway for a permanent successor, McLarnon will oversee Lion’s U.S. brewing operations, including Bell’s Brewery.
In a press release, Fechheimer called it “an honor to lead New Belgium for the past six years.”
“This is a truly special company, co-founded by Kim Jordan, a social worker, who asked me to help stabilize the business and pursue a new era of growth – all while never wavering in our core belief that business works best when it works for the people who power it,” he continued. “I’m immensely proud of our team, and I’m excited for New Belgium’s next chapter built on the solid foundation we’ve established so far.”
New Belgium co-founder Kim Jordan hired Fechheimer, the former chief strategy officer at spirits giant Beam Suntory, to supplant her as CEO in July 2017. Fechheimer led the brewery with a “human-powered” business approach.
In the press release, Jordan called Fechheimer “the perfect leader for New Belgium when he joined us in 2017.”
“I’m immensely grateful for all that he’s done for the business, its coworkers, and our communities,” she continued. “I will miss knowing he’s leading the business every day, but I’m excited to see how New Belgium continues to evolve as the leader in craft beer and in progressive business practices.”
Lion Group CEO Sam Fischer added that Fechheimer “leaves an incredible legacy, delivering strong growth while staying true to New Belgium’s Human-Powered Business model.”
“One of the hallmarks of a great leader is the strength of the team they build around them,” he said. “Steve has grown an exceptional leadership team who I know will keep driving this business forward with purpose and heart to achieve great things for New Belgium’s coworkers, communities, and customers.”
Fischer called the U.S. “a priority market for Lion,” and the company is “excited about the future ahead for our craft beer and wine businesses here.”
“We are committed to New Belgium’s Human-Powered Business model and continuing to foster the very special culture that underpins it,” he said.
Two years into Fechheimer’s tenure, employee-owned New Belgium sold the business to Lion. Then in 2021, Lion acquired Bell’s Brewery in Michigan, bringing together two legacy craft breweries and creating the largest craft beer platform in the U.S.
New life was breathed into the New Belgium portfolio with the introduction of the Voodoo Ranger line of IPAs, which is now the No. 1 best-selling IPA and the No. 2 overall best-selling craft beer.
In 2022, New Belgium’s output reached a company record 1.23 million barrels (+14%), the company’s third consecutive year of double-digit volume growth. The combination of New Belgium and Bell’s produced 1.675 million barrels last year.
Year-to-date through May 21, Lion’s portfolio of New Belgium and Bell’s ranks as the eighth best-selling beer category vendor, with $222.68 million in dollar sales (+17.8%), and volume (measured in case sales) up +11.1%, in multi-outlet and convenience stores tracked by market research firm Circana. Lion’s craft brands hold 1.37% dollar share of off-premise beer sales.
The New Belgium brand family alone ranks 14th in sales, with more than $185 million in off-premise dollar sales (+24.5%) and cases sales up +15.7%, according to the firm.
During his tenure, Fechheimer was outspoken about the effects of climate change, calling on Fortune 500 companies to put forward climate action plans. Longtime signature brand Fat Tire became the first certified carbon neutral beer in the U.S.
Fechheimer also oversaw a revamping of Fat Tire earlier this year, in an attempt to re-energize the flagship brand as an entry point for new craft consumers.
New Belgium is the latest craft brewery to see its c-suite shaken up. Last week, Sierra Nevada announced that Jeff White would retire after 38 years with the company. Founder Ken Grossman was appointed interim CEO, as the search for a successor began.
Uinta Brewing also announced a leadership transition plan, with VP of sales Noah Brown taking over for Jeremy Ragonese, starting next month. And in April, Rhinegeist Brewery named CCO Adam Bankovich interim CEO to help usher in the “next phase” of the Cincinnati brewery.