The Boston Beer Co has appointed former Constellation Brands, Beam Suntory and Allied Domecq executive Diego Reynoso as its new CFO, with effect from 5 September this year.
Reynoso has more than 25 years’ experience in finance and operations in the beverage alcohol and food industries, and was most recently CFO of the Prepared Foods division of Tyson Foods in Chicago.
Prior to that, he served as CFO of Constellation’s beer division, and has also had stints at Beam Suntory, Allied Domecq, Danone and Procter & Gamble. In his new role, Reynoso will report directly to Boston Beer CEO David A Burwick.
“Diego is a highly accomplished leader with extensive alcoholic beverage expertise and a proven track record of driving transformational business strategies,” said Burwick.
“His operating experience and financial acumen make him the right leader to help The Boston Beer Company grow and achieve our long-term financial goals.”
Matt Murphy, who has served as the company’s interim CFO since the departure of Frank Smalla in April this year, will now return to his post as company vice president, finance and chief accounting officer.
In May this year, The Boston Beer Co announced a near -5% dip in first quarter sales amid continuing challenges in the hard seltzer category. The company has moved to revamp its Truly Hard Seltzer brand, as well as driving other brands including Twisted Tea, Hard Mountain Dew and Samuel Adams beer.
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