A non-Busch...for now!
Anheuser-Busch Cos. Inc. ended a long family tradition when it named its first chief executive in 142 years who is neither an Anheuser nor a Busch. The producer of top-selling beers such as Budweiser and Bud Light appointed Patrick Stokes, 59, currently in charge of the company’s U.S. beer business, its largest operation, to become president and chief executive on 1 July 2002. He will succeed August Busch III, who will remain as chairman and who turns 65 in June. His son, August Busch IV, 38, who had also been tipped as his successor, will take over from Stokes as head of the US beer unit.
The company reported a 16 per cent rise in first-quarter profits, boosted by higher prices and sales of its new Bacardi Silver flavoured malt drink.
Domestic beer volume rose 1.4 percent to 24.
Select offer and read on
6 print issues