Craft Brew CFO Joe Vanderstelt leaves at short notice

  • Push-out Score suggests push-out forces
  • After about three years in the position
  • Accolades, praise and good wishes for Vanderstelt
  • Responsibilities redistributed
  • Vanderstelt said 56 words

(exechange) — Portland, Oregon, June 20, 2018 — Joe Vanderstelt, finance chief of Craft Brew, leaves. It is a change at short notice. As announced by Craft Brew Alliance, Inc. in a news release and in a regulatory filing published on Wednesday, June 20, 2018, Joseph K. (Joe) Vanderstelt, chief financial officer, leaves the craft brewing company after about three years in the role, effective July 13, 2018.

Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CFOs who departed over the past 12 months was 6.7 years, according to data compiled by exechange.

The position of chief financial officer is currently not filled. Joe Vanderstelt’s responsibilities are redistributed.

Career change

Vanderstelt’s imminent departure from the CFO post is explained as follows. Craft Brew said: “On June 16, 2018, Joseph K. Vanderstelt, Chief Financial Officer and Treasurer of Craft Brew Alliance, Inc. …, gave notice of his resignation from the Company, effective July 13, 2018, in order to accept another career opportunity in a similar role at a non-alcohol beverage company on the east coast.”

Exact details about Vanderstelt’s new position were not immediately available.

“Departing the company/resigned”

Craft Brew said: “Joseph K. Vanderstelt, chief financial officer, will be departing the company, effective July 13, 2018.”

Craft Brew further said: “Mr. Vanderstelt has resigned his position at CBA.”

Share price rise since April 2017

The change follows a rise in the share price of Craft Brew Alliance, Inc. since April 2017.

Chaired by David R. Lord

Craft Brew Alliance, Inc. is chaired by David R. Lord.

Lord has served as a director since May 2003 and was elected Chairman of the Board in January 2016.

CEO: Andrew J. Thomas

Andrew J. Thomas serves as CEO of Craft Brew Alliance, Inc. Andrew J. Thomas has served as Chief Executive Officer since January 1, 2014.

In the position of CFO since 2015

Joseph K. Vanderstelt has served as Chief Financial Officer since April 27, 2015.

From 2010 to April 2015, Vanderstelt served as Senior Director, Finance & Strategy for MillerCoors, a joint venture of SABMiller plc and Molson Coors Brewing Company formed in 2008.

From 2008 to 2010, Vanderstelt served in several leadership positions with MillerCoors and Miller Brewing Company including Sr. Director, Marketing Finance, Regional Controller, Plant Controller, Manager, Corporate Strategy, and General Manager. Prior to joining Miller Brewing Company, Vanderstelt was a principal of Vanderplow Distributing Company, a Michigan beer & wine wholesaler whose primary suppliers were Miller Brewing Company and Gallo Wine.

Vanderstelt is a Certified Public Accountant (CPA), Certified Global Management Accountant (CGMA), and Certified Management Accountant (CMA).

Push-out Score suggests push-out forces

It is not completely certain what forces eventually triggered Joe Vanderstelt’s imminent move.

The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.

Read the full story in the exechange report 26.2018 ($).