Host Of Beam Execs Depart After Suntory Deal, But Company Says CEO Shattock Is In For Long HaulJuly 30, 2014
While a raft of Beam Inc. senior executives have left the company since Suntory completed its $16 billion acquisition of the Deerfield, Illinois-based spirits marketer in May, rumors are currently spreading that others—including Matt Shattock, chairman and CEO of the newly formed Beam Suntory—may also be headed out the door.
Earlier this week, The Delaney Report newsletter quoted a Beam source as saying, “a number of (Beam execs) are getting a bucketful of money from the Suntory deal. They don’t see why they should stay.” The Delaney Report added that Shattock and chief marketing officer Kevin George were likely to depart.
However, a Beam spokesperson strongly denied the rumors, saying that Shattock and George had no plans to leave the company, and that Shattock was excited to lead the new team that’s been put in place over the past few months.
In recent weeks, Beam Suntory appointed consumer goods veteran Tim Hassett as president of its North American business. Hassett replaces Bill Newlands, who had previously said he would leave Beam later this summer and is scheduled to depart next month. Several other former Beam Inc. execs—including CFO Robert Probst, corporate controller Leo Mierzwicki and chief performance officer Mindy Mackenzie—left the company soon after Suntory’s acquisition was finalized.
Last month, Beam Suntory parent company Suntory Holdings brought in a new president—Takeshi Niinami. Previously chairman of the Lawson c-store chain, Niinami is the first Suntory president to be hired from outside the group.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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