Michael Spillane is resigning as president and CEO of Boston Beer, effective August 15, for personal reasons, not due to disagreements. He will transition to an advisory role until March 31, 2026. Founder Jim Koch will resume the CEO position and maintain his board responsibilities. Spillane has been with the company for nearly 10 years, emphasizing its significant achievements and future potential. He will continue as a salaried employee until November 15, 2025, with an annual salary of $905,000, followed by a reduced quarterly pay until his complete departure.
After careful reflection, I've decided to take a step back to focus on some important personal matters. Since joining Boston Beer, I've seen the company revolutionize the craft beer and flavored malt beverage categories. It's an amazing company with a great future and I look forward to contributing to its success from my seat on the board.
Michael has been with Boston Beer for nearly 10 years, first as a board member and most recently as CEO for the past year and a half. He's given us a steady leadership hand during a dynamic time for our industry, and under his guidance, we delivered one of our most profitable quarters in many years in the second quarter.
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