ASSOCIATED PRESSIn a report released on Monday by the Financial Times, Anheuser-Busch InBev insiders indicated that the brewing giant had begun proceedings to replace longtime CEO Carlos Brito. According to an anonymous source at AB InBev cited by the FT, Brito’s exit is planned for 2021 and the firm is currently working with the executive recruitment firm Spencer Stuart. Brito follows longtime AB InBev CFO Felipe Dutra, who left in February of this year, and board chairman Olivier Goudet who left in March 2019. Industry consolidation has slowed, and the long-term growth trajectory for beer remains humble (AB InBev increased its beer output by volume by just 0.8% in 2019). AB InBev declined Forbes’ request for comment.

Source: Forbes September 10, 2020 12:45 UTC