Stone Brewing CEO Dominic Engels has resigned from the Escondido, California-headquartered craft brewery, according to an internal letter to staff from co-founder Steve Wagner and obtained by Brewbound.
Wagner has assumed the role of interim CEO, while co-founder Greg Koch will remain executive chairman.
“We have a bright future ahead and I look forward to Stone’s continued success,” Wagner wrote. “Greg, the Stone board of directors, and I will be working to find the right person to lead the company’s advancements and growth. We wish Dominic well and thank him for all that he’s contributed to Stone.”
Stone confirmed Engels’ departure from the company and wished him well.
Stone is the ninth largest craft brewery in the nation by volume, according to trade group the Brewers Association. Last year, the company produced 395,000 barrels of beer, down 1% from its 2018 production volume, according to the BA. Stone’s business model includes nine bistros and taprooms, most of which are located in California, where changing government regulations during the COVID-19 pandemic have made operations challenging.
“In this unprecedented environment we’re operating in, both Greg and I believe in our company’s unique position in the world, and that we are poised to come to the other side of this pandemic as a healthy, vibrant business with opportunities in front of us,” Wagner wrote. “We will continue to evolve as a company as we have these past 24 years and thank each one of you who make up this team for the passion you contribute.”
Engels joined Stone in early September 2016 after the company conducted a year-long search. At the time, Stone pulled Engels from POM Wonderful where he served as president. Engels worked at POM for 11 years, including a sting as managing director in Europe and as VP of Wonderful Pistachios & Almonds in the U.S.
Engels’ hiring coincided with Stone co-founder Greg Koch’s transition into the role of “executive chairman.” Wagner remained president of the company.
Justin Kendall contributed to this report.