AB InBev announces Carlos Brito's successor following blowout quarter

06 May, 2021

AB InBev has announced that North America president Michel Doukeris will succeed veteran leader Carlos Brito as chief executive this summer.

Brito has been at the helm of the company since 2005. He joined 32 years ago and its transformation into the world’s largest brewer through a flurry of high-profile acquisitions.

The Brazilian businessman is now 61 years of age, and he has decided to step down. The board unanimously elected Doukeris, president of AB InBev’s North America Zone, to succeed Brito effective July 1.

The announcement follows a blowout quarter for AB InBev, which increased year-on-year revenue by 17.2% to $12.29 billion in the first three months of 2021. Beer volumes were up 13.3% and revenue per hl grew 3.7% as a result of an increased focus on more premium brews.

Normalized profit was $1.01 billion, compared to a loss of $845 million a year ago, while normalized EBITDA increased 14.2% from last year to $4.27 billion.

Shares in Belgium were up 3.8% after the news was revealed.

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