New Beam Suntory CEO ‘ready to drive next wave of growth’
Albert Baladi has officially assumed the role of chief executive officer of Beam Suntory as previous incumbent Matt Shattock transitions to non-executive chairman of the board.
The US-based drinks firm announced that Shattock would be succeeded by Baladi in October last year. The transition was completed yesterday (1 April).
Shattock, who spent 10 years leading Beam Suntory, will remain a member of the board at parent firm Suntory Holdings and will hold the role of non-executive chairman at Beam Suntory.
Baladi joined Beam Suntory eight years ago and most recently served as its chief operating officer and president of the North America region. Before Beam Suntory, Baladi worked at Yum! Brands, PepsiCo and Procter & Gamble.
He will now aim to make Jim Beam and Maker’s Mark producer Beam Suntory “the world’s fastest growing premium spirits company”.
“I’m looking forward to building on Beam Suntory’s strong foundation and track record of sustainable, profitable long-term growth,” Baladi said.
“Bolstered by Suntory’s strong support and by our ambition to be the world’s most admired and fastest growing premium spirits company, our team is ready to drive the next wave of growth.
“It will be fuelled by accelerated premiumisation, stepped up investments in priority emerging markets, and sharp focus on our east-meets-west competitive advantage.”
Shattock led Beam during its integration with Japanese drinks giant Suntory Holdings, and during his tenure, annual sales grew from US$2 billion to US$4.4bn.
He said: “Even with the success achieved so far by Beam Suntory, I’m confident that the company’s best days lie ahead. Albert will be a tremendous CEO, and I look forward to supporting him and the best team in our industry as non-executive chairman of the board.”