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Drinks

Beam Suntory Completes Transition To New Chief Executive

Drinks giant Beam Suntory has announced the appointment of Albert Baladi as its new president and chief executive, following the completion of a CEO succession process.

Matt Shattock, the group’s former chief executive, who led the company for ten years, has transitioned to non-executive chairman of the board.

Shattock also remains a member of the board of Suntory Holdings, the parent company of Beam Suntory.

Baladi, 54, most recently served as the company’s chief operating officer.

'Strong Foundation'

“I’m looking forward to building on Beam Suntory’s strong foundation and track record of sustainable, profitable long-term growth,” he said.

“Bolstered by Suntory’s strong support and by our ambition to be the world’s most-admired and fastest-growing premium spirits company, our team is ready to drive the next wave of growth. It will be fuelled by accelerated premiumisation, stepped-up investments in priority emerging markets, and sharp focus on our East-meets-West competitive advantage,” he added.

Before joining Beam Suntory, Baladi held a variety of senior roles at firms including Yum! Brands, PepsiCo and Procter & Gamble.

During former CEO Shattock’s tenure, annual sales at the firm grew to $4.4 billion (€3.91 billion) from $2.0 billion (€1.78 billion).

© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

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