BOSTON, Feb. 2, 2017 /PRNewswire/
-- The Boston Beer Company, Inc. (NYSE: SAM) today announced that
Martin Roper, President and Chief
Executive Officer, plans to retire in 2018 after leading the
Company for more than 17 years. The Board of Directors has
created a search committee and retained Korn Ferry to assist in identifying and
evaluating the best candidates to succeed Roper as CEO.
In announcing his planned retirement, Roper said, "I have
advised the Board of Directors of my intentions a year in advance
to assure a very smooth transition and a full and thorough search
process for my replacement. I remain fully engaged and
committed to leading the business as CEO until a successor is found
and a seamless transition is completed. I am incredibly proud of
everything that the employees of Boston Beer have accomplished and
believe our future is very bright."
Commenting on the announcement, Jim
Koch, Founder and Chairman, said, "The Board has been
discussing Martin's plans for over a year. We are appreciative that
his continued commitment to Boston Beer affords us the time to
conduct a comprehensive search for his successor, while continuing
to make progress against our 2017 business objectives."
"Our performance under Martin's stewardship has been incredible,
and I am very grateful for his leadership, partnership and
friendship over the last 22 years, during which the Company has
grown eight fold," Koch added. "With the strong leadership team he
has built, we are set up for success, and I am confident we will
find a very capable CEO to steps into his big shoes and lead Boston
Beer into the future."
ABOUT THE BOSTON BEER COMPANY
The Boston Beer Company
began in 1984 with a generations-old family recipe that Founder and
Brewer Jim Koch uncovered in his father's attic. Inspired and
unafraid to challenge conventional thinking about beer, Jim brought
the recipe to life in his kitchen. Pleased with the results of his
work, Jim decided to sample his beer with bars in Boston in the hopes that drinkers would
appreciate the complex, full-flavored beer he brewed fresh in
America. That beer was aptly named Samuel
Adams Boston Lager, in recognition of one of our nation's
great founding fathers, a man of independent mind and spirit.
Little did Jim know at the time, Samuel
Adams Boston Lager would soon become a catalyst of the
American craft beer revolution.
Today, The Boston Beer Company brews more than 60 styles of
beer. It relentlessly pursues the development of new styles and the
perfection of classic beers by searching the world for the finest
ingredients. Using the traditional four vessel brewing process, the
Company often takes extra steps like dry-hopping, barrel-aging and
a secondary fermentation known as krausening. The Company has also
pioneered another revolution, the 'extreme beer' movement, where it
seeks to challenge drinker's perceptions of what beer can be. The
Boston Beer Company has been committed to elevating the image of
American craft beer by entering festivals and competitions around
the globe, and is one of world's most awarded breweries at
international beer competitions. As an independent company, brewing
quality beer remains its primary focus. Although Samuel Adams beer
is America's leading craft beer, it accounts for only one percent
of the U.S. beer market. The Boston Beer Company will continue its
independently-minded quest to brew great beer and to advocate for
the growth of craft beer across America. For more information,
please visit www.samueladams.com.
Samuel Adams and Samuel Adams Boston
Lager are registered trademarks of The Boston Beer
Company.
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SOURCE The Boston Beer Company, Inc.