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Beam Suntory Inc., a company that produces alcoholic beverages, including the Jim Beam brand of bourbon whiskey, announced this week that it had appointed a new chief executive officer to lead the firm. It named Greg Hughes the new CEO, who will replace Albert Baladi, who is stepping down on Oct. 1.
Before his promotion, Hughes was Beam Suntory’s senior vice president and chief growth brands officer. According to Chicago Business, the new chief joined the company in 2015, and Baladi has been in the role for 12 years.
The outgoing executive vacates his post to “make way for the next leader.” Baladi also explained that his resignation was a personal decision.
“It is with an optimistic eye toward the future and extreme pride for all that has been accomplished that I have made the personal decision to step down and make way for the next leader,” Baladi said in a press release. “This is a decision I have been contemplating for some time with my family, and given the strength of the company, clear growth strategy in place for the future and the right team in place, now is the right time to hand the reins over to my successor, Greg Hughes, and his exceptional leadership.”
Meanwhile, Hughes previously worked with Kraft Foods, Bel Brands, and Procter & Gable. He handled various positions in these companies’ marketing and commercial divisions. Suntory Holding’s president and CEO, Tak Niinami, said that Hughes has a good track record of performance which he believes will help the company succeed in the future.
“He truly knows how to put brands and people at the heart of the business, and we have great confidence in his leadership,” Niinami said.
Finally, with the appointment of its new CEO, Beam Suntory is expected to announce the succession for the brands and marketing organization in the coming months.
Photo by: Joshua Michaels/Unsplash
