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Anheuser-Busch InBev’s share price rises to new CEO, surpassing earnings

Carlos Brito, CEO of Anheuser-Busch InBev,

Eric Vidal | Reuters

Share Anheiser Bush InBev Bud Light brewers rose 5% in pre-market transactions after CEO Carlos Brito announced his resignation on July 1.

Michelle Duqueris, who is currently responsible for the company’s North American operations, will take the reins from Brito.

“The CEO’s announcement will allow investors to restructure their views on companies that appear to be at the beginning of a positive transition,” Barclays analyst Lawrence Wyatt said in a note to clients. It was.

In addition to announcing its successor, Anheuser-Busch InBev reported first-quarter earnings, surpassing Wall Street’s estimates despite the blockade outside the United States. Revenues increased 17.2% to $ 12.3 billion as they faced a comparison with last year when bars and restaurants began to temporarily close due to the coronavirus pandemic.

Brito has been CEO for 15 years since the company was InBev alone. His 61st birthday is Saturday. According to the Financial Times.. While heading the company, he led the acquisition of Anheuser-Busch and SABMiller, turning the company into the world’s largest brewery and reducing costs in the process.

However, in recent years, beer consumption has declined as consumers choose alternatives such as Hardselzer, drink less, or never drink. AB InBev has added new products such as the Bud Light Seltzer to adapt to changing tastes.

Michelle Duqueris of Anheuser-Busch, CEO and President of North America, will speak at the Fairfield Brewery in Fairfield, California on June 5, 2019, signing a contract between Anheuser-Busch and the Sun.

Vivian Kirilea | Getty Images

Doukeris has spent the last 25 years at AB InBev, where he has held leadership positions in the Asian and North American sectors. Like Brito, he is Brazilian. AB InBev said the board unanimously elected Doukeris as Brito’s successor.

Jeffreys analyst Edward Mandy writes that Duqueris brings a “strong premium focus” to the company. He conducted a high-end division in China. He also has experience in e-commerce. The successor to Doukeris’ current role will be nominated before July.

AB InBev’s share has risen 6% so far this year, with a market value of $ 126 billion.

Anheuser-Busch InBev’s share price rises to new CEO, surpassing earnings

Source link Anheuser-Busch InBev’s share price rises to new CEO, surpassing earnings

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