Brown-Forman hands control to new generation

Jack Daniel’s producer Brown-Forman has appointed two fifth generation members of its founding family to the group’s board of directors.

Borwn-Forman, maker of Jack Daniel’s Tennessee Whiskey, has moved control over to a new generation of its founding family

The appointment of Augusta Brown Holland and Stuart R. Brown sees the control of Brown-Forman pass to a new generation, as Dace Brown Stubbs, the last member of the Brown family’s fourth generation to serve on the board, announces she will not to stand for re-election after 16 years service.

Brown-Forman was founded by George Garvin Brown in 1870, since when the Brown family has controlled a majority voting stock in the group.

“Like so many in her generation, Dace Brown Stubbs has dedicated much of her time and energy to Brown-Forman in order to secure the long-term success and prosperity of the company, its shareholders, and its stakeholders,” said Brown-Forman chairman Garvin Brown.

“On behalf of her fellow directors and the Brown family, I would like to offer Dace our heartfelt thanks for her sixteen years of board service, including her commitment to stay on the board for the last decade.

“During that time, her wisdom, engagement, and stewardship have helped ensure a smooth transition from the fourth to fifth generation.”

Augusta Brown Holland, daughter of Owsley Brown II, the company’s CEO from 1993 to 2005, is a developer and founding partner at Haystack Partners.

Stuart R. Brown, son of W.L. Lyons Brown, the company’s chief executive officer from 1975 to 1993, is the managing partner of private equity find Typha Partners and the president of sustainability charity Dendrifund.

Their appointments come two months after fellow fifth generation Brown family member Campbell Brown was promoted to the newly created position of president of Old Forester Bourbon.