Modelo CEO Leaves A-B Board

by

Brew blog

Comes as board reportedly prepares to meet to discuss InBev bid.

Carlos Fernandez, the CEO of Grupo Modelo, has left the board of Anheuser-Busch, A-B announced.

The departure comes as the A-B reportedly is set to meet to discuss an unsolicited bid for the company from InBev.

A-B has a 50 percent stake in Modelo. Reports suggested that A-B might seek some sort of tie-up with Modelo to stave off Inbev. The odds of that actually happening appeared slim, however, analysts and observers said.

Here’s A-B’s release:

ST. LOUIS, June 20 /PRNewswire-FirstCall/ — Carlos Fernandez G., chairman and chief executive officer of Mexican brewer Grupo Modelo, S.A.B. de C.V., yesterday informed Anheuser-Busch Cos. Inc. (NYSE: BUD – News) of his resignation from the American brewer’s board of directors, effective immediately. “Carlos has always provided great value as a member of our board, with insights into the business,” said August A. Busch IV, president and chief executive officer of Anheuser-Busch. “He remains a respected colleague.”

The resignation reduces the Anheuser-Busch board to 13 members. Modelo is the importer and distributor of the Budweiser, Bud Light and O’Doul’s brands in Mexico.

Advertisements

Tags:

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: