AB InBev plans to replace longtime CEO Carlos Brito

Carlos brito

Anjali Sundaram | CNBC

Budweiser Manufacturer Anheuser-Busch InBev has started a process to replace CEO Carlos Brito, the Financial Times Report Monday.

The world’s largest brewer is considering external candidates to replace Brito, who was its CEO for 16 years and oversaw a series of mergers that turned two Brazilian and Belgian beverage makers into a global giant, the FT reported, citing people who know the issue.

AB InBev declined to comment on FT’s report, which also says the company is currently considering just one internal candidate, Michel Doukeris, who runs its North America-based Anheuser-Busch business.

Brito is involved with the board in the process and plans to step down at some point next year, the FT said, citing one person. It is also possible that Brito will remain in charge longer if a replacement is not found, he said, adding that Brito is expected to join the AB InBev board after he resigns.

Bernstein Research said in a memo the timing for the leadership change made sense, with the Covid-19 crisis potentially easing and the company needing to focus on increased organic growth after years of expansion by acquisitions.

He said it made sense to look outside the company as well, but it was very likely that an internal candidate would win with Doukeris clearly the favorite.

AB InBev, which manufactures Stella Artois and Corona, is working with recruiting firm Spencer Stuart on the research, the FT said.

Brazil-born Brito’s biggest deal to date has been the nearly $ 100 billion takeover in 2016 of its closest rival SABMiller, whose activities in Africa have filled a critical hole in the economy. global corporate footprint.

Read the full report here.

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