Boston Beer Company CEO Dave Burwick will step down and retire from the company’s board of directors, effective April 1. Michael Spillane, a Nike executive and lead director on Boston Beer’s board of directors, will supplant him.
New Boston Beer CEO Michael Spillane said the company’s “highest priority” moving forward “is to return to delivering sustainable volume growth.”
Boston Beer Company’s Q1 volume woes eased in 2024, after Q1 shipments and depletions declines in both 2022 and 2023.
Constellation Brands is expected to be the biggest winner in shelf resets this spring, according to the most recent Beverage Bytes beer distributor survey by Goldman Sachs.
Boston Beer Company issued its 2023 annual report last Thursday, a 98-page document packed with numbers, operational details and risk factors that gives a window into the company’s business last year and moving forward.
Boston Beer Company reported its 2023 full-year and fourth-quarter earnings amid a flurry of news, including that CEO Dave Burwick will retire, a Nike exec will supplant him and that its Hard MTN Dew brand will shift to beer wholesalers from PepsiCo’s erstwhile Blue Cloud Distribution.
Hard MTN Dew is transitioning to Boston Beer Company’s beer distributor network and will expand to all 50 states, outgoing Boston Beer CEO Dave Burwick said today during the company’s full-year and Q4 earnings report.
Boston Beer Company’s shipments and depletions declined -6.2% and -6%, respectively, in 2023, the company reported today in its full-year and fourth-quarter earnings report.
All of Boston Beer Company’s named executive officers (NEO) except for CEO Dave Burwick will receive salary raises in 2024, according to a U.S. Securities and Exchange Commision (SEC) Form 8-K filed on February 16.
A lawsuit filed by Boston Beer against a former employee alleging that he violated a non-compete agreement by working for a competitor has been dismissed. The complaint was “dismissed with prejudice as to as to all claims against Brian Soudant, without costs and fees and without right of appeal,” according to a document filed February 9 in the Massachusetts Superior Court for Suffolk County.
Two former sales representatives have challenged Boston Beer’s non-compete clause in separate lawsuits in U.S. District Court, with one calling the policy “unreasonable, unconscionable and unenforceable under Massachusetts law.”
The convenience channel remains a bright spot for beer as the category tackles declines elsewhere, and growth in the channel is expected to continue through 2024, Goldman Sachs analysts reported in the company’s latest Bev Bytes retailer survey.
The fallout surrounding the conservative-led boycott of Anheuser-Busch’s (A-B) Bud Light brand and the accelerated declines that ensued accounted for three of Brewbound’s top stories of 2023. The internal machinations at A-B, including a reshuffling of its craft division, also piqued Brewbound readers’ interests. As we close out the year, here’s a look back at the 10 most-read stories of 2023.
Boston Beer Company is adding another non-alcoholic (NA) brand to its portfolio, expanding a ready-to-drink (RTD) offering and discontinuing another.
Boston Beer Company executives made “inactionable statement[s] of corporate optimism” about sales of Truly Hard Seltzer during its Q1 and Q2 earnings calls in 2021, negating a lawsuit and subsequent appeal filed by investors who alleged the company misled them about the brand and company’s performance. A panel of three Second Circuit judges upheld the… Read more »
