Belgian brewer InBev NV has tapped two key executives to head its North American leadership team after it completes its $52 billion buyout of St. Louis-based Anheuser-Busch Cos., the biggest U.S. brewer.
Luiz Fernando Edmond, currently InBev's zone president for northern Latin America, will become zone president for North America, which will include A-B operations. David A. Peacock will become president of Anheuser-Busch.
Peacock is an A-B veteran who has circulated among the corporate planning brand management, media and sales departments. He currently is vice president of marketing at A-B's domestic beer subsidiary. He is a close confidante of August A. Busch IV, Anheuser-Busch's chief executive.
St. Louis will be the North American headquarters for the combined company, Anheuser-Busch InBev, and the global home of the Budweiser brand. Both executives will be based in St. Louis. A-B shareholders will meet on Nov. 12 to approve on the proposed acquisition, which is expected to close by the end of the year.
As zone president, Edmond will oversee all of Anheuser-Busch InBev's operations in the United States and Canada. Since joining Brazilian brewer AmBev, which is now part of InBev, in 1990 as a trainee, Edmond has worked in the distribution, commercial and supply departments.
As president of Anheuser-Busch, Peacock will manage all U.S. operations for the combined company, including the brand management of Budweiser and Bud Light. Peacock, 40, is a native of St. Louis who began working for Anheuser-Busch in 1992. He has a bachelor's degree in journalism from Kansas University and a master's in business administration from Washington University.
The choice of Peacock was not surprising, said Benj Steinman, publisher and editor of trade publication Beer Marketer's Insights. "He's been the star for the company for several years," said Steinman. "He's had a wide range of responsibility and he's cut a broad swath of influence."
Jack Russo, an analyst at Edward Jones, said InBev's leadership wanted to win over Anheuser-Busch's employees by promoting one of their own -- a move that could soothe some of the worries and disruption that come with a takeover.
Peacock, who is on the team integrating InBev and Anheuser-Busch before the actual transaction, "has proved his mettle over time," said Russo. "There's going to be a lot of moving pieces. You're going to need some talented people. ... Having a guy like this around means a lot."
Peacock said the opportunity to lead the brewer was a "privilege and an honor."
"You think about the people who have run this company, and they're pretty few and far in between," Peacock said in an interview. "Most of them have had the last name Busch." He thanked August Busch IV for supporting him as InBev mulled executives to lead Anheuser-Busch.
Peacock said the last few days have been a "bit of a whirlwind." He wasn't sure exactly when he found out about the job.
There are a few things that are more clear for Peacock, who in his new post will stand at the intersection of various constituencies: drinkers, politicians, regulators and distributors. His primary task will be to continue Anheuser-Busch's revenue growth.
"We're going to continue to put brands first," he said. Sure, cost-cutting is in the works. The goal is to "be as efficient as possible, but at the same time continue the momentum we have."
Peacock got to know some of InBev's top executives by working on an agreement nearly two years ago, under which Anheuser-Busch imports some of InBev's key European brands, including Beck's and Stella Artois. He met Edmond in Brazil.
"We've talked quite a bit," said Peacock. "I really am impressed with the caliber and the quality" of InBev's executives.
Carlos Brito, InBev's chief executive, called Edmond an integral part of InBev's management team since the company's inception through a merger in 2004.
"Under his leadership our Latin American business has thrived," Brito said in a statement. "His strong leadership, international experience and familiarity with our company make him uniquely qualified for this position within Anheuser-Busch InBev."
Brito said he has "known and respected" Peacock for quite some time. Brito said Peacock's expertise would "prove invaluable to the successful integration of these two leading global brewers."
