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Yahoo
7 days ago
- Business
- Yahoo
Boston Beer Company Announces CEO Transition
Founder, Brewer and Chairman of the Board Jim Koch to assume CEO role; Michael Spillane to remain on board of directors 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 which includes links to our respective brand websites. Attachments Jim Koch Michael Spillane CONTACT: Dave DeCecco Boston Beer Company
Yahoo
7 days ago
- Business
- Yahoo
Boston Beer founder Jim Koch returning to Sam Adams brewer as CEO
This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. Dive Brief: Jim Koch, Boston Beer founder and chairman, will return as CEO at the Sam Adams brewer, a position he held from the company's beginnings in 1984 until January 2001. Koch replaces Michael Spillane, who is stepping down as CEO on Aug. 15 to focus on personal matters. Spillane will remain on the company's board of directors. The executive change comes as the beer industry grapples with a downturn in consumption. The sector has struggled as consumers pull back on spending and curtail booze consumption. Dive Insight: Boston Beer saw its stock and sales soar in the late 2010s due largely to demand for its Truly Hard Seltzer. But as consumer tastes have shifted in the alcohol sector, Boston Beer has been among the hardest hit. During its most recent quarter, depletions, or the amount of product the company sold to consumers, decreased 5% from the prior year. Shipment volume for the period was about 2.1 million barrels, a 0.8% decrease from the prior year. This downturn was primarily due to declines in Truly and Samuel Adams brands that were partially offset by growth in Dogfish Head and Sun Cruiser, Boston Beer's lemonade vodka drink. Koch told The Wall Street Journal he will remain as CEO until an internal successor is ready. 'I don't anticipate doing this in five years,' he told the business publication. 'There are multiple people who are not yet ready, but in a couple of years, one or two of them will be.' Koch said Spillane is leaving the brewer in a 'pretty good situation.' While Koch hasn't been CEO at Boston Beer for more than two decades, he has been actively involved in the alcohol space and his company since then, often appearing on earnings calls and at industry events. While his return as CEO was unexpected, few are likely as attuned to the inner workings of Boston Beer and the industry as a whole as Koch. '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,' Koch said in a press release. The shakeup is the latest CEO change at a major alcohol company in recent months. Molson Coors CEO Gavin Hattersley announced in April he is retiring by the end of 2025 after six years leading the company. And last month, Guinness and Johnnie Walker maker Diageo said CEO Debra Crew has stepped down 'by mutual agreement' after two years. Recommended Reading Smirnoff owner Diageo splits with CEO 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
Business Upturn
02-08-2025
- Business
- Business Upturn
Boston Beer Company Announces CEO Transition
By GlobeNewswire Published on August 2, 2025, 01:28 IST 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 which includes links to our respective brand websites. Attachments Jim Koch Michael Spillane Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
03-04-2025
- Entertainment
- Yahoo
The Boston Beer Company and AEG Presents Announce Strategic Live Music Partnership
Multiyear Partnership to Bring Premium, Ready-to-Drink Sun Cruiser Iced Tea & Vodka, Truly Hard Seltzer, Twisted Tea Hard Iced Tea and Angry Orchard Hard Cider to Nearly 30 Iconic AEG Presents Music Venues and Festivals Nationwide BOSTON, April 03, 2025 (GLOBE NEWSWIRE) -- The Boston Beer Company has joined forces with AEG Presents, a global leader in live entertainment, to bring its portfolio of brands—headlined by Sun Cruiser Iced Tea & Vodka and also including Truly Hard Seltzer, Twisted Tea Hard Iced Tea, and Angry Orchard Hard Cider—to the heart of the live music experience. The multiyear partnership, brokered by AEG Presents Global Partnerships, will see The Boston Beer Company activate its flagship brands across nearly 30 AEG Presents music venues nationwide, including Brooklyn Steel (NY), Resorts World Theatre (Las Vegas), and Roadrunner (Boston) as well as multiple festivals from coast to coast, including Electric Forest in Rothbury, Michigan, and the New Orleans Jazz & Heritage Festival (New Orleans). As the first major music partnership for Sun Cruiser, coming just one year after its debut, this partnership will help the fast-growing spirits-based iced tea establish itself as a go-to choice for music lovers. The brand and its lineup of flavors—Classic Iced Tea, Lemonade + Iced Tea, Raspberry, and Peach—will be prominently featured across AEG Presents' iconic venues and festivals. Fans of legal drinking age can elevate their concert-going experience through on-site activities such as product sampling, exclusive giveaways, limited-edition merchandise, and more.* "Sun Cruiser is all about bringing drinkers that nostalgic, summertime feeling all year long, and there's no better place to let the good times cruise than live music events,' said Erica Taylor, senior brand director for Sun Cruiser. 'We want to be where our drinkers are, and we know they love live music, so this is our way of helping them savor every moment of their experience at AEG Presents' concerts and festivals.' Made with real iced tea, real vodka and natural flavors, Sun Cruiser delivers a smooth sip with no bubbles, 4.5% ABV, 100 calories and just 1 gram of sugar per 12oz. serving, making it an easy sipping experience, perfect for a festival weekend or concert night. "Boston Beer's products represent the perfect blend of quality and innovation that we seek in our strategic partnerships,' said Bret Heiman, SVP, Global Partnerships at AEG Presents. 'Their fresh approach and standout offerings will enhance the fan experience across our extensive network of venues and festivals, creating memorable moments that extend far beyond the stage.' The brand-new partnership underscores The Boston Beer Company's commitment to the live music space and sets the foundation for future growth as well as expanded activations across the AEG Presents portfolio. For more information on The Boston Beer Company and its brands, please visit To find Sun Cruiser Iced Tea & Vodka near you, check out the brand's product finder. For more on AEG Presents, visit About The Boston Beer 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. The Boston Beer Company has pioneered not only craft beer but also hard cider, hard seltzer, and hard tea. Our brands include household names like Angry Orchard Hard Cider, Dogfish Head, Hard Mountain Dew, 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 which includes links to our respective brand websites. About Sun Cruiser Iced Tea & Vodka: Made for those who enjoy the sun on their face and hanging outdoors with friends, Sun Cruiser Iced Tea & Vodka is made with real brewed tea and premium vodka for a perfect choice to sip and share. At 4.5% ABV and no bubbles to weigh you down, Sun Cruiser has just a kiss of sweetness and tastes refreshingly smooth in a mix of delicious flavors. For more information, follow along on social @DrinkSunCruiser and visit us at About AEG Presents: Combining the power of the live event with a focus on true artist development, AEG Presents is a world leader in the music and entertainment industries. Operating across five continents, the company has an unparalleled commitment to artistry, creativity, and community. Its tentpole festivals and multi-day music events — which include the iconic Coachella Valley Music & Arts Festival and the legendary New Orleans Jazz & Heritage Festival alongside British Summer Time at Hyde Park, Stagecoach, Hangout Festival, Electric Forest, Rock En Seine and All Points East — continue to set the bar for the live music experience. AEG Presents promotes global tours for artists such as Justin Bieber, Zach Bryan, Sabrina Carpenter, Kenny Chesney, Luke Combs, Celine Dion, Elton John, Carin León, Paul McCartney, The Rolling Stones, Ed Sheeran, Taylor Swift, and Tyler, The Creator, in addition to — through its network of clubs, theatres, arenas, stadiums and renowned partner brands such as The Bowery Presents, Cárdenas Marketing Network, Concerts West, Frontier Touring, Goldenvoice, Marshall Arts, MCT Agentur, Messina Touring Group, PromoWest Productions, and Zero Mile Presents — creating and developing an unmatched infrastructure for artist development and audience reach. More information can be found at About AEG: Headquartered in Los Angeles, California, AEG is the world's leading sports and live entertainment company. The company operates in the following business segments: Music through AEG Presents, which is dedicated to all aspects of live contemporary music performances, including the production and promotion of global and regional concert tours, an extensive portfolio of clubs, theaters and other music venues, concerts and special events and world-renowned festivals such as the Coachella Valley Music and Arts Festival; Venues and Real Estate, which develops, owns and operates world-class venues, as well as major sports and entertainment districts like Arena and L.A. LIVE, Uber Platz in Berlin and The O2 in London; Sports, as the world's largest operator of high-profile sporting events and sports franchises including the LA Kings, LA Galaxy and Eisbären Berlin; Global Partnerships, which oversees worldwide sales and servicing of sponsorships including naming rights, premium seating, and other strategic partnerships. And Ticketing, through its ticketing platform, which provides more than 400 clients worldwide with ticketing services that cover the gamut of entertainments, including sporting events, arena tours, music clubs festival, rodeos and family events. Through its worldwide network of venues, portfolio of powerful sports and music brands and its integrated entertainment districts, AEG entertains more than 90 million guests annually. More information about AEG can be found at *Subject to state legalities; experiences may differ by venue. CONTACT: Kasey Barrow Boston Beer Company 443-945-5355 Dennis Dennehy AEG Presents ddennehy@ Sam Johnson AEG Presents sjohnson@ Shannon Donnelly AEG Global Partnerships in to access your portfolio
