Boston Beer Company Announces CEO Transition
Jim Koch
Michael Spillane
Boston, Aug. 01, 2025 (GLOBE NEWSWIRE) -- The Boston Beer Company (NYSE: SAM) today announced a leadership change effective August 15, 2025. Michael Spillane has decided to step down as CEO to focus on important personal matters. He will remain on the company's board of directors, on which he has served since 2014, now in the capacity of a non-executive director.
Jim Koch, Boston Beer founder, brewer and chairman of the board, will assume the role of CEO. Koch was previously CEO of Boston Beer from its founding in 1984 until January 2001 and has remained chairman since 1984.
'Michael has been with Boston Beer for nearly 10 years, first as a board member and most recently as CEO for the past year and a half,' said Koch. 'He's given us a steady leadership hand during a dynamic time for our industry, and under his guidance, we delivered one of our most profitable quarters in many years in the second quarter. I appreciate everything Michael has done for us, and we're thrilled he's going to continue to help shape our strategy as a member of our board of directors. I am confident in the strength of our management team and Boston Beer's strategic direction and remain committed to delivering long-term value for shareholders.'
'After careful reflection, I've decided to take a step back to focus on some important personal matters,' said Spillane. 'Since joining Boston Beer, I've seen the company revolutionize the craft beer and flavored malt beverage categories. It's an amazing company with a great future and I look forward to contributing to its success from my seat on the board. I'd like to thank Jim, the board, the executive team, and all of Boston Beer's coworkers for their friendship and support.'
About the Company
The Boston Beer Company, Inc. (NYSE: SAM) began in 1984 brewing Samuel Adams beer and has since grown to become one of the largest and most respected craft brewers in the United States. We consistently offer the highest-quality products to our drinkers, and we apply what we've learned from making great-tasting craft beer to making great-tasting and innovative 'beyond beer' products. Boston Beer Company has pioneered not only craft beer but also hard cider, hard seltzer, and hard tea. Our core brands include household names like Angry Orchard Hard Cider, Dogfish Head, Samuel Adams, Sun Cruiser, Truly Hard Seltzer and Twisted Tea Hard Iced Tea. We have taprooms and hospitality locations in California, Delaware, Massachusetts, New York, and Ohio. For more information, please visit our website at www.bostonbeer.com, which includes links to our respective brand websites.
Attachments
Jim Koch
Michael Spillane
CONTACT: Dave DeCecco Boston Beer Company dave.dececco@bostonbeer.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
27 minutes ago
- Business Wire
SJM Investors Have Opportunity to Join The J. M. Smucker Company Fraud Investigation with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of The J. M. Smucker Company ('Smucker' or 'the Company') (NYSE: SJM) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Smucker announced its Q4 2025 financial results on June 10, 2025. The Company announced a $867 million impairment charge related to the goodwill of its Sweet Baked Snacks segment and a $113 million impairment charge to the Hostess trademark due to "continued underperformance of the Sweet Baked Snacks segment." The Company had previously referred to its acquisition of Hostess Brands as "highly complementary" and claimed to investors that "underlying trends in snacking and specifically sweet snacking still bode well for the category." Based on this news, shares of Smucker fell by more than 18% on the same day. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
Yahoo
37 minutes ago
- Yahoo
Citigroup (C) Stock Is Up, What You Need To Know
What Happened? Shares of global financial services giant Citigroup (NYSE:C) jumped 3.1% in the afternoon session after the broader market rallied on renewed hopes for Federal Reserve interest rate cuts, fueled by favorable inflation data and an extension of the U.S.-China trade truce. The surge was part of a significant market-wide upswing, with major indices reaching for all-time highs as investors grew more confident in a potential "soft landing" for the economy, where inflation is controlled without a major recession. The positive sentiment was bolstered by an extension of the U.S.-China tariff truce. The shares closed the day at $95.68, up 3.6% from previous close. Is now the time to buy Citigroup? Access our full analysis report here, it's free. What Is The Market Telling Us Citigroup's shares are not very volatile and have only had 8 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business. The previous big move we wrote about was 11 days ago when the stock dropped 3% on the news that a surprisingly weak July jobs report and the announcement of sweeping new tariffs fueled fears of an economic slowdown and an impending interest rate cut. The U.S. economy added just 73,000 jobs in July, the weakest gain in over two years, while the unemployment rate rose to 4.2%. This dismal data significantly increased market expectations for a Federal Reserve interest rate cut, with traders now pricing in an 80% probability of a cut in September. Lower interest rates typically harm bank profitability by compressing their net interest margins—the difference between what they earn on loans and pay on deposits. Compounding these worries, the announcement of new tariffs on imports from 92 countries has sparked fears of a global trade war, which could further dampen economic growth and disrupt supply chains, creating a challenging environment for the banking industry. Citigroup is up 36.7% since the beginning of the year, and at $95.60 per share, it is trading close to its 52-week high of $96.07 from July 2025. Investors who bought $1,000 worth of Citigroup's shares 5 years ago would now be looking at an investment worth $1,792. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
38 minutes ago
- Yahoo
Masco (MAS) Stock Trades Up, Here Is Why
What Happened? Shares of home-building design and manufacturing company Masco Corporation (NYSE:MAS) jumped 3.2% in the afternoon session after a broad market rally driven by renewed hopes for a Federal Reserve interest rate cut and an easing of trade tensions with China. The positive sentiment was sparked by a tame inflation report, with the Consumer Price Index (CPI) holding steady at 2.7% year-over-year. This has increased investor expectations for the Federal Reserve to lower interest rates, with the chances of a cut at the next meeting rising to 95%. Lower borrowing costs are seen as a stimulant for economic activity, particularly benefiting cyclical sectors like building and construction. Further boosting confidence, the U.S. and China agreed to extend their tariff truce, relieving concerns about global supply chain disruptions. This favorable macroeconomic environment lifted the entire industrials sector, as investors anticipate increased demand from a more robust economy. The shares closed the day at $71.21, up 3.3% from previous close. Is now the time to buy Masco? Access our full analysis report here, it's free. What Is The Market Telling Us Masco's shares are not very volatile and have only had 3 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business. Masco is down 0.6% since the beginning of the year, and at $71.21 per share, it is trading 16.9% below its 52-week high of $85.71 from October 2024. Investors who bought $1,000 worth of Masco's shares 5 years ago would now be looking at an investment worth $1,223. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
