The maker of Jack Daniel’s whiskey, Woodford Reserve bourbon and Herradura tequila will soon have a new chief executive, the company announced Monday.
Brown-Forman President and CEO Lawson Whiting will step down from his position “upon the appointment of a successor,” according to a company statement. Whiting first joined the spirits maker 30 years ago and has served as its CEO since 2019.
He will “remain available” to serve in an advisory role following the CEO transition, the company noted.
“Lawson has been a steadfast steward of founder George Garvin Brown’s vision – leading this company through an era of macro challenges and change with a clear and consistent vision for building the most premium portfolio in the industry,” Brown-Forman Chairman Marshall Farrer said in a statement.
“We are entering this transition from a position of strength,” added Whiting. "Brown-Forman has principled leadership, a foundation of iconic brands, and a global team with immense depth and talent."
The search process for a new chief executive will be guided by Brown-Forman’s corporate governance and nominating committee, which is led by retiring Yum Brands COO Tracy Skeans. The company did not outline a timetable for naming a new leader, but Farrer said that Whiting had provided “ample notice of his decision to retire.”
Brown-Forman also said Wednesday that its initial outlook for its new fiscal year, issued last month, remains intact. The company anticipates flat annual net sales and a decline in operating income.
