Chicago, IL, April 1, 2019 – Beam Suntory today completed its previously announced CEO succession plan, as Albert Baladi became President & CEO, and Matt Shattock transitioned to Non-Executive Chairman of the Board. Shattock served as leader of the company for ten years, including five years since the Beam Suntory merger as Chairman & CEO. He also remains a member of the board of Suntory Holdings, the parent company of Beam Suntory.
Baladi, 54, joined the company eight years ago and most recently served as Chief Operating Officer.
“I’m looking forward to building on Beam Suntory’s strong foundation and track record of sustainable, profitable long-term growth,” Baladi said. “Bolstered by Suntory’s strong support and by our ambition to be the world’s most admired and fastest growing premium spirits company, our team is ready to drive the next wave of growth. It will be fueled by accelerated premiumization, stepped up investments in priority emerging markets, and sharp focus on our East-Meets-West competitive advantage.”
Baladi joined the company in 2011 as President of the Europe/Middle East/Africa region. He was promoted to President of the International region in 2015 when the company combined the management of its EMEA and Asia Pacific markets. Most recently, Baladi was Chief Operating Officer and President of the North America region, which he led from late 2017 through the end of 2018.
Before joining Beam Suntory, Baladi has held positions of increasing responsibility throughout his 25year career, including at Yum! Brands, PepsiCo and Procter & Gamble. Baladi earned his preparatory degree from the École Polytechnique Lausanne and received his business degree from HEC Lausanne, both located in Switzerland.
“Even with the success achieved so far by Beam Suntory, I’m confident that the company’s best days lie ahead,” Shattock said. “Albert will be a tremendous CEO, and I look forward to supporting him and the best team in our industry as non-executive chairman of the board,” said Shattock.
Shattock led the company as a subsidiary of Fortune Brands, during its successful phase as a publicly traded spirits company, and through its acquisition by Suntory Holdings and the subsequent successful integration of Beam with Suntory’s spirits business. During Shattock’s tenure, annual sales grew to $4.4 billion from $2.0 billion.