US-based MGP Ingredients is preparing for a change of CEO, the latest in a long line of beverage alcohol brand owners to switch leadership this year.
David Colo will make way for current COO David Bratcher at the end of December, the company has confirmed this month. Having assumed the position at the Kansas-based group in March 2020, Colo will continue in an advisory capacity until April.
Bratcher, who is also MGP’s president of branded spirits, transitioned to MGP as part of its acquisition of Luxco in 2021. He started with Luxco back in 1998 as director of operations, moving up to become president ten years ago.
MGP operates five distilleries in the US and operates a contract distilling business. On the branded side, the company owns The Pearl vodka and Bourbon Ezra Brooks, inherited from Luxco, as well as its own George Remus Bourbon brand.
Among the other CEOs calling time on their tenures in 2023 have been Albert Baladi at Beam Suntory, Cees ‘t Hart at Carlsberg and Damian McKinney at Stoli Group. Elsewhere, Diageo brought forward Debra Crew’s pre-announced appointment following the death of CEO Ivan Menezes in early June, while Bob Kunze-Concewitz confirmed in September his intention to vacate the top spot at Campari Group next year.
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