August A. Busch Lands The Big One
Last
Wednesday Anheuser-Busch announced that the fifth generation of the
Busch family will be leading the largest beer company in the world.
The move is not a big surprise, as Busch IV has spent the last 21 years
working for A-B preparing himself for the ultimate positions, president
and CEO. Busch IV's father, Busch III, has been grooming his son to
take on the roll since he stepped down and placed Patrick Stokes as
president and CEO four years ago.
Busch
IV has been working as the president of the flagship brewery unit of
St. Louis-based Anheuser-Busch. Busch IV's segment is responsible
for the brewing of Budweiser, Bud Light and other beers. Currently
Budweiser is the world's best selling full-calorie beer and Bud Light
is the world's best selling light beer. The
promotion signals upward moves throughout the global beer giant.
Busch III will retire from his position as Chairman of the Board, a
roll that Patrick Stokes will assume. Stokes' promotion to Chairman
of the Board left the president and CEO seat vacant, creating the
opportunity for Busch IV to step in.
The
promotion signals upward moves throughout the global beer giant.
Busch III will retire from his position as Chairman of the Board, a
roll that Patrick Stokes will assume. Stokes' promotion to Chairman
of the Board left the president and CEO seat vacant, creating the
opportunity for Busch IV to step in. Busch accepts the top-spot at a
difficult time for the beer titan.
Slumping
sales and botched corporate acquisitions have caused some issues for
A-B. The company hopes bringing the Busch name back to the top spot
of the company will boost business both in the U.S and abroad. Busch
will have to deal with the constant onslaught from competitors as well
as the recent growth of the craft beer industry, two very difficult
battles. Additionally, Busch will have to reinvent the brand in
Europe where beer sales have been steadily slumping. Taking
the reigns of his family's company will be a good thing for Busch
IV. A-B needs a big boost and I think they will get it from the
return of a Busch to the front office. A-B has said they are in
desperate need of new leadership from a new generation of CEO. It
will be interesting to see if Busch IV is up to the challenge.
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