CEO of Sazerac Mark Brown plans to leave his role next month, according to reporting by Louisville Business First. The move is part of “a long-signaled and eight-year succession plan,” that will see Brown move to the role of executive chairman.
Jake Wenz, Sazerac’s current chief commercial officer since 2015, will succeed Brown as president and CEO, effective July 1.
Brown started at New Orleans-based Sazerac in 1981 as director of new products, before moving on to lead several departments. He has served as the company’s president and CEO since 1997. His “Industry News Update” newsletter has been a source of daily information for the alcohol industry for years.
Founded in 1850, Sazerac is one of the largest spirit companies in the U.S. market. It owns more than 450 brands globally, including Buffalo Trace, Pappy Van Winkle, and Southern Comfort. The Buffalo Trace Distillery in Kentucky announced a $1.2 billion expansion plan in 2022 enabling production to double as of February.
Sazerac made news early this year when it announced a distribution pivot from RNDC to several beer wholesalers. The spirits producer then filed a lawsuit against its former distributor for nonpayment of $38.6 million in January.