INTERNATIONAL. Beam Suntory President & Chief Executive Officer Albert Baladi will step down on 1 October, with his responsibilities taken by Senior Vice President Chief Growth & Brands Officer Greg Hughes.
Under this succession plan, Baladi will serve as CEO Advisor through year-end and will be engaged as Senior Advisor for the company throughout 2024. Succession for the brands and marketing organisation, currently under Hughes’ leadership, will be announced in the coming months.
Baladi has served on the executive leadership team of Beam Suntory for 12 years, including the past five years as President & CEO. Beam Suntory’s annual sales have grown at high single digits to more than US$5 billion since Baladi stepped into the role in 2019. In addition, the company has significantly accelerated its premiumisation trajectory with premium brands becoming the majority of its sales.
Baladi said, “It’s 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.
“This is a decision I have been contemplating for some time with my family. 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. I am very proud of what we have built in the past 12 years and am grateful for the opportunity to lead Beam Suntory as President & CEO during a five-year period of massive transformation for our company.”
Suntory Holdings President & CEO Takeshi Niinami also commented: “On behalf of Suntory Holdings, I’d like to express deep appreciation to Albert for his tremendous leadership, exemplary contributions and impact during his 12-year tenure with Beam Suntory.
“As CEO, Albert has led a highly transformative phase for the company. He architected the company’s 2030 growth strategy, established a brand-led operating model and step-changed investments in talent and capabilities. He also launched the company’s first-ever Proof Positive Sustainability strategy, moved our global headquarters to New York City and navigated the many challenges of the COVID-19 pandemic.
“Under Albert’s values-based leadership, Beam Suntory has delivered exemplary business performance, accelerated premiumisation and become a stronger organisation. We couldn’t be more thankful for his leadership and impact on the brands and culture of Beam Suntory.”
Hughes has over three decades of experience in consumer goods across marketing, commercial and management roles. Since joining Beam Suntory in 2015, Hughes led the company’s largest market as President North America for four years and prior to that as General Manager North America. Prior to Beam Suntory, he served in roles with increasing responsibility at Procter & Gamble, Bel Brands USA and The Kraft Foods Group.
“Greg is ideally suited to succeed Albert as CEO and lead the company’s next era of growth – building on the strong track record under Albert’s leadership,” said Niinami. “Greg has an incredibly strong record of performance anchored in strategic vision, exemplary brand building and a people-first inclusive mindset. He truly knows how to put brands and people at the heart of the business, and we have great confidence in his leadership.”
Hughes said, “I’m humbled and excited as I step in to lead Beam Suntory into our organisation’s next chapter as we transform this business to achieve our ambition to become the world’s most admired premium spirits company and accomplish our 2030 goals.
“We have great people, great brands and a strong supporter in Suntory Group – a winning combination that promises a bright future for this company.” ✈
