Boston Beer Company announced Friday that its chief executive will step down later this month — and that its founder and chairman would return as CEO after more than two decades.
Jim Koch, who established the brewer of Sam Adams beer in 1984, is slated to take over for Michael Spillane effective Aug. 15. Spillane will step down to “focus on important personal matters,” the company said, although he will remain on the company’s board of directors.
Koch led the company from its founding until 2001 and has served as chairman throughout its history. He also long played a prominent role in the company’s ad campaigns.
“Michael has been with Boston Beer for nearly 10 years, first as a board member and most recently as CEO for the past year and a half,” Koch said in a statement. “He’s given us a steady leadership hand during a dynamic time for our industry, and under his guidance, we delivered one of our most profitable quarters in many years in the second quarter.”
In addition to its flagship Sam Adams beer label, Boston Beer also owns Dogfish Head beer as well as Angry Orchard hard cider, Truly hard seltzer, and Twisted Tea and Sun Cruiser hard iced teas.
