- After about six years in the position
- Accolades, praise and thanks for Burwick
- Michael Spillane taking over
- Burwick said 91 words
(exechange) — Boston, Massachusetts, February 27, 2024 — Dave Burwick, chief executive of Boston Beer, leaves his position. As announced by Boston Beer Co. in a news release and in a regulatory filing published on Tuesday, February 27, 2024, David A. (Dave) Burwick leaves his post as chief executive officer at the craft brewer, after about six years in the role, effective March 31, 2024.
Generally speaking, it raises questions when a CEO leaves his post at short notice.
Dave Burwick’s duties as CEO will be taken over by Michael Spillane, most recently Lead Director at Boston Beer Co.
“The right time for me to move on”
The management change is explained as follows. Burwick stated: “Now that our momentum is building and we’re back on track with great plans ahead for ‘24, it’s the right time for me to move on.”
Precise information regarding Dave Burwick’s future plans was not immediately available.
“Retire/step down”
Boston Beer said: “Dave Burwick will retire as President and Chief Executive Officer and member of the Board of Directors.”
Boston Beer further said: “David A. Burwick, President and Chief Executive Officer, has decided to step down from his position and as a member of the Company’s Board of Directors, effective March 31, 2024.”
Share price decline since February 2021
The announcement follows a decline in Boston Beer Co.’s share price of 63% since February 2021.
In the position of CEO since 2018
Dave Burwick became CEO of the Company in 2018.
Burwick will remain in an advisory role with the Company through March 31, 2026.
Burwick has served on Boston Beer’s Board of Directors since May 2005 and was appointed President and Chief Executive Officer in April 2018.
Prior to that, he served as President and Chief Executive Officer of Peet’s Coffee & Tea, Inc., a specialty coffee and tea company based in Emeryville, California, since December 2012.
From April 2010 to December 2012, Burwick served as President, North America of WW International, Inc., formerly Weight Watchers International, Inc., a leading provider of weight management services based in New York City.
Prior to that, Burwick held numerous positions with PepsiCo, Inc., headquartered in Purchase, New York, including Chief Marketing Officer, PepsiCo Americas Beverages from August 2008 to August 2009; Executive Vice President, Marketing, Sales and R&D, PepsiCo International from April 2008 to July 2008; President, Pepsi-QTG Canada from January 2006 to March 2008; Chief Marketing Officer, Pepsi-Cola North America from June 2002 to December 2005; and various marketing roles from 1989 to 2002.
In September 2021, Burwick joined the Board of Directors of Deckers Outdoor Corporation, a publicly held footwear designer and distributor based in Goleta, California.
He currently serves on Deckers’ Compensation Committee.
91 words by Dave Burwick
In the release announcing his departure as CEO of Boston Beer Co., Dave Burwick received accolades, praise and thanks.
In announcing his departure, Dave Burwick said 91 words.
“Great hands”
Dave Burwick stated: “Now that our momentum is building and we’re back on track with great plans ahead for ‘24, it’s the right time for me to move on. I’m fortunate to have been connected to this company for 19 years and I’m especially appreciative of the talented, committed, and passionate people of Boston Beer – none more than Jim – who have taught me so much about leadership and about myself. Boston Beer has a unique and powerful culture and I’m confident the company is in great hands to take advantage of the opportunities ahead.”
The above text is an excerpt from the exechange report 10.2024 ($), publication date March 4, 2024.