Beam Suntory CEO Matt Shattock to step down

Beam Suntory has announced its CEO Matt Shattock will step down from his role next year, and will be succeeded by current chief operating officer and president – North America, Albert Baladi.

Matt Shattock to step down as CEO of Beam Suntory after 10 years

Shattock will remain a member of the firm’s board as non-executive chairman and a member of the Suntory Holdings board.

Effective April 2019, Shattock will transition his responsibilities to Baladi.

Shattock has held the position for 10 years, including five years since the Beam and Suntory merger. During his tenure, annual sales have grown to US$4.3 billion from US$2bn to date.

Shattock has led the company through a number of transformations, including as a subsidiary of Fortune Brands and completion of the integration of the Allied Domecq acquisition, and through its acquisition by Suntory Holdings.

Baladi joined Beam Suntory in late 2017. He previously worked at Yum! Brands in 2011 as president of EMEA, before becoming president, international in 2015 when the company combined management of its EMEA and Asia Pacific businesses.

“I couldn’t be prouder of what our team has accomplished over the past decade, and especially since the creation of Beam Suntory,” said Shattock.

“Our business is outperforming globally, we’ve established robust long-term strategic growth platforms, and Beam Suntory’s prospects have never been stronger.

“I made the decision a while back that when these leadership milestones come next April – 10 years leading the company and five since the creation of Beam Suntory – it will be the right time to transition chief executive leadership to Albert.

“He’s been a key partner for the past seven years, he’s ideally suited to be our next CEO, and our succession plan to ensure continuity and a smooth transition will enable him to hit the ground running.”

Tak Niinami, CEO of Suntory Holdings and lead director of Beam Suntory, said: “After seeing Albert in action over the past several years, I have complete trust in his capabilities to lead Beam Suntory successfully.

“Suntory Holdings is grateful for Matt’s outstanding leadership, including how the company sustained its momentum during the acquisition and integration, and how it has outperformed the global spirits market each year as Beam Suntory.

“I look forward to working with Matt and Albert as we build on this legacy of success at Beam Suntory.”

Beam Suntory will name Baladi’s successor in the coming months.