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Beam Suntory readies succession as CEO Matt Shattock set to stand down next year

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The head of Beam Suntory, Matt Shattock will step down as CEO in April, after ten years in the hot seat.

Matt Shattock became CEO of Beam Suntory predecessor Beam Global Spirits & Wine in 2009

Matt Shattock became CEO of Beam Suntory predecessor Beam Global Spirits & Wine in 2009

The Chicago-based spirits division of Suntory Holdings confirmed earlier today that Shattock will be replaced by current COO & North America president Albert Baladi. Shattock, who moved across from Cadbury to join Beam Global Spirits & Wine in early-2009, is the second CEO in recent months to announce his intention to leave a US-based spirits multinational, following Paul Varga's decision in May to retire from Brown-Forman at the start of next year.

Shattock, who led Beam Global through its takeover by Suntory four-and-a-half years ago, will continue as board chairman of Beam Suntory and retain his seat on Suntory Holdings' board.

Since joining Beam Suntory as president of Europe, Middle East & Africa in 2011, Baladi has moved up the ranks, becoming chief operating officer late last year.

Click here for just-drinks' two-part interview of Albert Baladi from late-2012

"Suntory Holdings is grateful for Matt's outstanding leadership, including how the company sustained its momentum during the acquisition and integration," said Suntory Holdings CEO Tak Niinami. "Suntory Holdings counts on the continuous contribution of Matt's knowledge and expertise for the advancement of our businesses."

Shattock added: "I made the decision a while back that when these leadership milestones come next April – ten years leading the company and five since the creation of Beam Suntory – it will be the right time to transition chief executive leadership to Albert. He's ideally suited to be our next CEO, and our succession plan to ensure continuity and a smooth transition will enable him to hit the ground running."

The unit said a replacement head for North American operations will be announced "in the coming months".

just-drinks spoke exclusively to Matt Shattock in 2011 - click here for the interview


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