Beam Suntory has announced that current CEO Matt Shattock will step down from chief executive duties effective in April 2019, and will be replaced by Albert Baladi, currently Beam Suntory’s COO and president for North America.

Shattock has overseen a period of marked expansion for Beam Suntory, having helmed the company for nearly 10 years, a period that included the sale of the former Beam Inc. to Suntory Holdings for $16 billion in 2014. Beam Suntory’s sales have grown to $4.3 billion from $2.0 billion during Shattock’s tenure.

Shattock will remain a member of the Beam Suntory Board as non-executive Chairman and a member of the Suntory Holdings Board.

Baladi has held his current position as COO and president of North America for just under a year. Previously, he led Beam Suntory’s International region. He joined Beam Suntory from Yum! Brands in 2011 as President of EMEA. Beam Suntory said it will identify Baladi’s successor as president, North America in the coming months.

According to Impact Databank, Beam Suntory is the world’s third-largest spirits marketer, with volume up 0.7% to 60.2 million cases in 2017. In the U.S., the company also ranks third, at 22 million cases.—Daniel Marsteller