Beam Suntory’s chairman and CEO Matt Shattock announced today that he will transition CEO responsibilities effective April 2019 to Albert Baladi, the company’s current COO and president – North America.
Under this succession plan, Shattock will remain a member of the Beam Suntory Board as non-executive chairman and a member of the Suntory Holdings Board.
When he steps down, Shattock will have served as leader of the company for ten years, including five years since the Beam Suntory merger. Annual sales have grown to $4.3 billion from $2 billion thus far during his tenure, the company reports.
“I couldn’t be prouder of what our team has accomplished over the past decade, and especially since the creation of Beam Suntory,” says Shattock. “Our business is outperforming globally, we’ve established robust long-term strategic growth platforms, and Beam Suntory’s prospects have never been stronger.
“I made the decision a while back that when these leadership milestones come next April – 10 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 adds. “He’s been a key partner for the past seven years, 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.”
Shattock has led the company through structural and cultural transformations, including as a subsidiary of Fortune Brands and completion of the integration of the Allied Domecq acquisition, during its phase as a publicly traded spirits company, and through its acquisition by Suntory Holdings, helping expand Suntory’s global presence through the subsequent integration of Beam with Suntory’s spirits business.
Albert Baladi has served as Beam Suntory’s COO and president – North America since late 2017. Previously, he led the company’s international region. He joined Beam Suntory from Yum! Brands in 2011 as president of EMEA, before becoming president – international in 2015, when the company combined management of its EMEA and Asia Pacific businesses.
Baladi has held positions of increasing responsibility throughout his 30-year career, including at Yum! Brands, PepsiCo and Procter & Gamble. Baladi earned his preparatory degree from the Ecole Polytechnique Lausanne and received his business degree from HEC Lausanne — both located in Switzerland.
“After seeing Albert in action over the past several years, I have complete trust in his capabilities to lead Beam Suntory successfully,” says Tak Niinami, CEO of Suntory Holdings and lead director of Beam Suntory. “Suntory Holdings is grateful for Matt’s outstanding leadership, including how the company sustained its momentum during the acquisition and integration, and how it has outperformed the global spirits market each year as Beam Suntory. I look forward to working with Matt and Albert as we build on this legacy of success at Beam Suntory. Furthermore, Suntory Holdings counts on the continuous contribution of Matt’s knowledge and expertise for the advancement of our businesses.”
Beam Suntory will identify Baladi’s successor as President – North America in the coming months.