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Brown-Forman chairman resigns
Marshall B Farrer will take over as chair of the board at Brown-Forman when Campbell P Brown steps down in July 2025.
Farrer, a fifth-generation descendant of the company’s founder and a current board member, will assume the role of chair, subject to his re-election. Brown will continue on the board as a director.
Brown said: “It has been an honour to serve as chair of the board and to work alongside the many talented professionals who comprise Brown-Forman’s board of directors and executive leadership team. Brown-Forman has always believed that thoughtful, well-planned leadership transitions strengthen our company for the long term.
“After working closely with board leadership, the time is right to entrust the role of chair to my cousin and fellow board member, Marshall Farrer.”
During Brown’s four-year tenure, Brown-Forman reshaped its premium portfolio through the acquisition of Gin Mare and Diplomático Rum.
Lawson Whiting, president and CEO of Brown-Forman, said: “Campbell has been a strategic thought partner to me for many years. His unique perspective as a fifth-generation Brown family member and a leader with brand and commercial experience has been invaluable. Throughout his years of service, from employee to board member to board chair, Campbell has demonstrated an unparalleled commitment to Brown-Forman and its people.
“As we look to the future, Marshall’s strategic vision and deep industry expertise will be key as we navigate the next chapter of growth at Brown-Forman. This transition represents the continuation of a legacy of stewardship that underscores the shared belief that there is truly ‘nothing better in the market’ than Brown-Forman.”
Brown led the board through periods of significant volatility, including the pandemic, supply chain disruptions, macroeconomic challenges, and tariffs on American whiskey. He also facilitated the selection and integration of four new board members.
Farrer, who is also the current executive vice-president and chief strategic growth officer, said: “We extend our deepest gratitude to Brown for his exceptional leadership as board chair. His fresh perspectives, unwavering trust, and strategic guidance have been invaluable during his tenure. We are grateful for his steady hand and approach, which have significantly contributed to Brown-Forman’s success.
“Being named chair of the board is a profound honour, and I am deeply grateful for the trust placed in me by my fellow board members. I look forward to building on the strong foundation laid by Campbell and continuing our legacy of strategic growth.”
Farrer will become the 11th Brown family member and third fifth-generation family member to chair the board of directors.
Tracy Skeans, chair of the corporate governance and nominating committee, added: “Farrer’s exemplary leadership and understanding of the global potential of the company’s portfolio and partnerships will undoubtedly elevate Brown-Forman to new heights. The board looks forward to collaborating with him to drive innovation and encourage the company’s long-term success.”
In its financial results for the year ending 30 April 2024, Brown-Forman saw net sales fall by 1% to US$4.2 billion.
In August, the firm abandoned its corporate diversity, equity and inclusion programmes.
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