Bud Gets New Boss, Sales Beat By Investing.com

By Christiana Sciaudone

Investing.com — Anheuser Busch popped on news of a new CEO and better-than-expected sales.

Michel Doukeris, President of AB InBev’s North America Zone, will succeed Carlos Brito as chief executive officer effective July 1. Brito is departing after 15 years as CEO and 32 years at the company.

Brito oversaw the acquisition of Mexico’s Grupo Modelo and SABMiller (LON:SAB) to become the world’s largest brewer, but also accrued net debt of $82.7 billion as of 2020, about 4.8 times earnings, according to Reuters. Shares have tumbled more than 40% since reaching a high about five years ago.    

Still, shares are up some 75% over the past 12 months as sales have beaten expectations.