US: Anheuser names non-family CEO as Q1 up
The US brewing giant Anheuser-Busch saw its first-quarter profits jump 16%, led by higher pricing and the success of its malt-based RTD Bacardi Silver. The company also announced that it was breaking a 142-year-old run by naming a non-family member as its chief executive. Patrick Stokes, 59, who is currently in charge of the company's US beer business, will become president and chief executive on July 1. He will replace August Busch III, who will remain as chairman and who turns 65 in June. The news was well received in the marketplace, where Stokes is well respected.
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