Boston Beer Names Nike Veteran Michael Spillane As CEO
February 28, 2024Boston Beer Company has named board member and Nike veteran Michael Spillane as CEO, effective April 1. He replaces Dave Burwick, who has served in the role since 2018. Company founder Jim Koch noted that during Burwick’s tenure Boston Beer has “grown from $850 million in revenue when he began as CEO to more than $2 billion in revenue.” The period saw the rise of Truly hard seltzer as well as rapid gains for FMB label Twisted Tea, among other key developments.
The news came as Boston Beer reported depletions down 6% for 2023, with revenue slipping 3.9%. The declines were primarily due to decreases in Truly hard seltzer and the company’s beer portfolio, partially offset by strong growth in Twisted Tea and growth in Truly Vodka Soda, Dogfish Head Canned Cocktails, and Samuel Adams Non Alcoholic offerings.—Daniel Marsteller
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