The Boston Beer Co is on the hunt for a new finance lead after Frank Smalla lined up his departure.
CFO Smalla, who has been with the Samuel Adams beer and Truly hard seltzer owner since 2016, tendered his resignation last week. In a regulatory filing, Boston stated that Smalla’s departure, scheduled for mid-April, “is not related to any disagreement with the company on any matter relating to its operations, policies, or practices”.
The filing also detailed the appointment of chief accounting officer Matt Murphy as interim CFO while the “formal search” for a permanent replacement continues.
Late last month, Boston Beer posted a near-30% in fourth-quarter sales, resulting in 2022 coming in up – just – by 1.6% versus the year prior. At the same time, the company unveiled an overhaul of Truly, including a marketing push during the current quarter and a rebrand of its spirits-based extension, Truly Vodka Seltzer, to become Truly Vodka Soda.
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