Beam Suntory CEO to stand down and be replaced by current COO

Beam Suntory CEO Matt Shattock will step down from his role in April 2019, to be succeeded by current chief operating officer Albert Baladi.

As of April 2019, Shattock will have served as leader of the company for ten years, including five years since the Beam and Suntory merger. Annual sales have grown to $4.3 billion from $2 billion thus far during his tenure. 

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.

“I couldn’t be prouder of what our team has accomplished over the past decade, and especially since the creation of Beam Suntory,” said 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 – ten 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’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.” 

Albert Baladi was appointed to the newly created position of chief operating officer and president of Americas last year, previously serving as president of Beam Suntory’s international unit.

He 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.

“After seeing Albert in action over the past several years, I have complete trust in his capabilities to lead Beam Suntory successfully,” said Tak Niinami, CEO of Suntory Holdings.

“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.” 

Albert Baladi added: “I’m looking forward to building on the track record of sustainable, profitable growth established under Matt’s inspiring leadership.

“Our ‘Vision Into Action’ growth strategy will remain our roadmap to the future as we pursue our objective of being the world’s fastest growing and most admired premium spirits company. Like Matt, I see it as my role to be a custodian of our extraordinary brand legacies, and I will consider it an honour and a privilege to lead our outstanding global team.” 

Beam Suntory said it will identify Baladi’s successor as president of its North America unit in the coming months.