9/7/2020, 5:46 PM (Source: TeleTrader)
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AB INBEV-2.46%

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AB InBev begins process to replace CEO - report

Anheuser-Busch InBev has started a process to replace the company's long-time Chief Executive Carlos Brito, the Financial Times reported on Monday citing sources familiar with the matter.

Brazilian Carlos Brito has led AB InBev for 16 years, transforming the company into one of the world's largest brewers. As Brito is planning to retire from his post in 2021, the sources claimed he is working with recruitment agency Spencer Stuart on finding a suitable replacement. At the moment, one of the people considered for the job includes head of North America-based Anheuser-Busch business, Michel Doukeris.

Both the company's chief financial officer and chairman resigned over the past year and a half. Meanwhile, AB InBev continues to struggle with financial problems caused by high debt.

Breaking the News / ND