BOSTON, March 28, 2017 /PRNewswire/ -- The Boston
Beer Company, Inc. (NYSE: SAM) (the "Company"), brewers of Samuel
Adams beers, announced today that Director Jay Margolis has informed the Board of Directors
that he will not stand for re-election as a Director of the Company
at the end of his current term and will retire from the Board
effective as of the close of the 2017 Annual Meeting of
Stockholders.
Mr. Margolis has been a Director of the Company since 2006,
having served on the Compensation and Nominating/Governance
Committees since May 2006, and the
Audit Committee since May 2013 and
from May 2006 to December
2007.
Jim Koch, Founder and Chairman of
the Company, said, "On behalf of Boston Beer and my fellow Board
members, we are forever grateful for Jay's service. I want to thank
him for his commitment, insight, and strategic contributions to the
Company and Board over the past decade. Jay has been instrumental
in shaping the Company's long-term business successes from his
consumer marketing perspective. He also was a key contributor in
the selection and onboarding process for our two newest Directors,
Michael Spillane and David Fialkow. While Jay's presence on the
Board will be missed, we respect his choice to retire and wish him
the very best."
Mr. Margolis said, "I want to thank Jim for the opportunity to
serve Boston Beer and its shareholders in what has been an amazing
journey over the last eleven years. It truly has been an honor to
contribute to one of the pioneers of the craft beer movement.
I will continue to admire the Boston Beer family of brands
and the Company's persistence for high standards and quality
products. While I will miss serving on the Board and working with
the amazing people at the Company, I am eager to see what the
future holds for Boston Beer – I believe the best is yet to
come."
About The Boston Beer Company, Inc.
The Boston Beer Company, Inc. began in 1984 and today brews more
than 60 styles of Samuel Adams beer. The Company's portfolio
of brands also includes Angry Orchard Hard Cider, Twisted Tea,
Truly Spiked & Sparkling, as well as several other craft beer
brands brewed by A&S Brewing Collaborative, our craft beer
incubator. For more information, please visit our investor
relations website at www.bostonbeer.com, which includes links to
all of our respective brand websites.
Forward-Looking Statements
Statements made in this press release that state the Company's
or management's intentions, hopes, beliefs, expectations or
predictions of the future are forward-looking statements. It is
important to note that the Company's actual results could differ
materially from those projected in such forward-looking statements.
Additional information concerning factors that could cause actual
results to differ materially from those in the forward-looking
statements is contained from time to time in the Company's SEC
filings.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/veteran-boston-beer-director-to-retire-300430506.html
SOURCE The Boston Beer Company, Inc.