Anheuser-Busch InBev is in “active discussions” to sell its non-controlling interest in its joint venture in Russia, Efes, to its partner, Turkish brewer Anadolu Efes, the company announced today.
In the announcement the world’s largest beer manufacturer said its request to suspend the license for production and sale of Bud in Russia is part of a potential deal.
A-B InBev previously said it would forfeit all financial benefit from the JV, which has led the company to not recognize its investments in the JV and report a $1.1 billion non-cash impairment charge as part of its Q1 earnings report.
The company added that it is continuing to provide support to its employees in Russia and their families, while also contributing to the humanitarian relief efforts in Ukraine. Those efforts include “counseling, housing and financial support,” as well as making donations to non-governmental relief organization Caritas and working with those groups and others to provide food, medical supplies and 3 million cans of emergency drinking water to Ukraine and refugee relief areas.
A-B InBev is also selling Ukrainian beer Chernigivske in the United Kingdom, Germany, Belgium, France, Netherlands, Denmark, Austria, Poland, Italy, Colombia and Brazil, with plans to add other markets. Profits from the sale of the beer are going to humanitarian relief efforts, with A-B guaranteeing $5 million of support to the effort.
“A-B InBev’s focus remains on assisting its people, their families and the overall humanitarian relief efforts while wishing for peace,” the company said.
A-B Names Ricardo Tadeu Chief Growth Officer in Commercial Leadership Team Restructure
A-B InBev appointed Ricardo Tadeu to the newly created role of chief growth officer as part of a restructure of the company’s commercial leadership team that will see the 26-year company veteran and former chief B2B officer overseeing the world’s largest beer manufacturer’s sales, marketing, B2B and director-to-consumer functions.
Tadeu will report directly to A-B InBev CEO Michel Doukeris and be tasked with accelerating “the next phase of innovation and growth.” He will be based in New York.
“This new structure is a critical step in delivering our strategy and transforming our business,” Doukeris said in a press release. “Ricardo’s unrivaled expertise in customer and consumer-focused digital transformation combined with his extensive commercial experience will enable us to meet the moment and accelerate growth in our core business and continue to unlock profitable new business opportunities.”
In his role, Tadeu’s direct reports will include:
- Lucas Herscovici, A-B’s former chief sales officer, who will serve as direct-to-consumer officer on the senior leadership team;
- Nick Caton, A-B’s former chief financial officer, who will succeed Tadeu as chief BEES officer and join the senior leadership team;
- Marcel Marcondes, who previously served as A-B’s president of beyond beer and a former A-B CMO, as CMO of A-B InBev, replacing Pedro Earp, who is exiting the company. Marcondes will also serve on A-B InBev’s senior leadership team;
- Pablo Panizza, former chief direct-to-consumer officer, who will take the newly created role of global head of sales and distribution.
- Bernardo Novick, global head of ZX Ventures.
“I’m honored and inspired to take on this new role,” Tadeu said in the release. “With a talented team, iconic beer brands, a powerful technology platform, and customer and consumer centric solutions that did not even exist five years ago, we have a remarkable opportunity to solve real problems and create extraordinary value for the company.”
“This is an exceptional team, comprised of leaders expert in understanding and supporting consumer and customer needs, harnessing technology, and scaling new opportunities,” Doukeris added. “With Ricardo’s visionary leadership, this new strategically aligned commercial structure will deliver continued momentum through relentless execution of our strategy, accelerating our journey from being category leaders to leading category growth.”