Founders Brewing Company co-founder and CEO Mike Stevens will move into the role of board member, effective February 1, as the Grand Rapids, Michigan-headquartered craft brewery searches for a new CEO, the company announced today.
The company said Stevens is stepping away from the CEO role “to pursue other personal ambitions and spend more time with his family.”
“Building this company from the ground up and watching it grow into a successful business has truly been the honor of a lifetime,” Stevens said in a press release. “To find something I love doing and then create an entire brand and business from it was an incredible experience. I am extremely proud of what we have accomplished, and I am excited about the opportunities that lie ahead for our organization, and to be part of that progress in my new position as a member of the board.”
In the interim, Erik d’Auchamp, the Grand Rapids-based director of international business for Founders’ parent company Mahou San Miguel, will assume the CEO duties for the company.
Founders co-founder Dave Engbers will continue on in his role as president, as well as assume the responsibilities as chairman of the board.
d’Auchamp said in the release that Mahou is “grateful for Mike and Dave’s vision and direction in developing and executing a brand and strategic plan that enabled Founders to gain a leadership position in the craft beer space.”
“When we very first met with Mike and Dave back in 2014 to discuss a partnership between our two brands, we could tell that we were building a connection to something special,” he said in the release. “After working closely with the Founders team for years, we are excited to continue down the path of innovation with this group of talented and passionate individuals. We will continue to pave our way forward in the craft beer space while retaining everything that makes Founders unique, including their incredible team.”
Stevens and Engbers launched Founders in 1997. The company produced 592,000 barrels of beer in 2020, a +2% increase, according to the Brewers Association. In 2021, off-premise sales of Founders’ portfolio declined -9.9% compared to 2020, as the company faced pandemic-driven shifts in purchasing from on-premise retailers to off-premise, according to market research firm IRI. Nevertheless, Founders’ $128.6 million in sales made it the 18th largest beer category vendor in the off-premise, IRI reported.
Founders has aggressively grown over the years, with Spanish brewer Mahou acquiring a 30% stake of the brewery in 2014 for around $96 million. Mahou took a majority stake in Founders in 2019, giving it a 90% stake in the company. Stevens and Engbers each retained 5% of the business after that deal, according to reports.
In 2018, Founders faced accusations that the brewery tolerated “racist internal corporate culture.” A former employee, Tracy Evans, sued the company for racial discrimination, a lawsuit that was ultimately settled in 2019.