BELGIUM: InBev nominates new director

By | 20 March 2008

InBev has nominated an additional director to its board.

The company said yesterday (19 March) that Stéfan Descheemaeker will become non-executive director, replacing Allan Chapin who is set to retire from the board on 29 April.

Descheemaeker joined InBev in 1996 as head of external growth and has since held several executive management positions including president of the company's Central & Eastern European and Western European zones. He was most recently appointed as InBev's chief strategy officer "a position that he will relinquish concurrent with his appointment as a non-executive director," the company said.

Descheemaeker placement as a director is subject to the approval of the shareholders at the next annual shareholders meeting next month. Following this confirmation, the responsibility for InBev's strategic and business cycle will rest with its CFO Felipe Dutra.

InBev chairman Peter Harf added: "I would like to thank Allan for his active and significant contributions over the last 14 years. The board and the executives of InBev wish him a well deserved retirement. I am also pleased to welcome Stéfan as a new board member. His combination of management and strategic experience will be a valuable addition to the board."

Last month the global brewer reported that net profit for the year to the end of December leapt by 22.4% on 2006, coming in at EUR1.86bn (US$2.81bn). Non-recurring items resulted in a net non-recurring gain to profit from operations of EUR374m. This gain was mainly due to the sale of Belgian and Dutch real estate assets, which resulted in a gain before taxes of EUR357m, the company said.


Sectors: Beer & cider

Companies: InBev

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