Boston Beer Company Announces New CEO
The Boston Beer Company will have a new CEO this spring. On Tuesday, the beer giant behind Samual Adams and Dogfish Head announced that current president and CEO Dave Burwick is set to retire April 1. Lead director Michael Spillane will assume the CEO role the same day.
Burwick has been CEO of the company since 2018 and has been on Boston Beer’s board since 2005. During Burwick’s tenure, Boston Beer Company’s revenue more than doubled, and its stock generated average annual returns of 12 percent — an impressive number when compared to other U.S. beer companies. Burwick guided the growth of Boston Beer’s “beyond beer” category, including billion-dollar brands Twisted Tea and Truly. He also oversaw product launches like Hard MTN Dew and introduced new partnerships with major companies such as PepsiCo and Beam Suntory.
“I’ve known Dave for 19 years, and he’s had a tremendous impact on our company — first as a board member and for the last six years as our CEO,” Boston Beer founder and brewer Jim Koch said in the announcement. “We’ve grown from $850 million in revenue when he began as CEO to more than $2 billion in revenue with a portfolio of powerful brands in attractive categories today. He’s built a strong and deep leadership team and he’s positioned the company very well for ongoing success in 2024 and beyond.”
Spillane has been on the board of the company since 2016 and in his role as lead director since summer 2023. He has 17 years of experience working in consumer goods, holding leadership positions at companies like Nike, Inc.
“Michael’s strong track record as a consumer executive and his experience on our board make him the ideal person to lead Boston Beer as we continue to forge ahead in a rapidly evolving beer industry,” said Koch. “Given his already extensive knowledge of our company and our culture, we expect Michael to hit the ground running as he steps in to help lead us into our next chapter.”
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