Following the official announcement made some months ago, August A. Busch III is officially retiring as president and chief executive of Anheuser-Busch today. During his 27 years as chief executive, August A. Busch III, 65, transformed the company, adding 25% to its market share in the US, where it now has a 49% share of the beer market, and establishing the company as a major international force.

Busch is being succeeded by Patrick Stokes who has been with Anheuser-Busch for 33 years and is known to have played a key role in the group's recent successes.