The chairman and CEO of Grupo Modelo has resigned from his position on the board of Anheuser-Busch.

Carlos Fernandez, whose family runs the Mexican-company, told A-B today (20 June) that he was stepping down from the post with immediate effect. Neither A-B nor Modelo gave further details behind Fernandez's decision.

In a statement, A-B's president and CEO, August Busch IV, said: "Carlos has always provided great value as a member of our board, with insights into the business. He remains a respected colleague."

Speculation this week has suggested that A-B, which is the subject of a US$46.3bn takeover bid from InBev, has been in talks with Modelo - in which A-B holds a 50% stake - to acquire the other half of the Mexican company.