BOSTON BEER APPOINTS JOE JORDAN AND BIZ STONE TO ITS BOARD OF DIRECTORS

Rhea-AI Summary

The Boston Beer Company (NYSE: SAM) has appointed Biz Stone and Joe Jordan to its Board of Directors, effective July 29, 2024. Stone, co-founder of Twitter and other tech ventures, will serve as an independent Class B Director on the Compensation and Nominating/Governance Committees. Jordan, currently President of U.S. and Global Services at Domino's, will serve as an independent Class A Director on the Audit and Compensation Committees.

Stone brings entrepreneurial and innovative experience, while Jordan offers expertise in brand management and consumer packaged goods. These appointments aim to strengthen the board's capabilities in technology, innovation, and industry knowledge. The move comes as part of Boston Beer's strategy to enhance its leadership in the craft brewing and 'beyond beer' product categories.

Positive

• Addition of two experienced directors with diverse backgrounds in technology and consumer goods
• Strengthening of board expertise in innovation, brand management, and industry knowledge
• Expansion of board size with the addition of a new Class A Director seat

Negative

• None.

BOSTON, July 31, 2024 (GLOBE NEWSWIRE) -- The Boston Beer Company, Inc. (NYSE: SAM) today announced that it appointed Biz Stone and Joe Jordan to its Board of Directors, effective July 29, 2024. Mr. Stone will serve as an independent Class B Director, filling the vacancy created by the retirement of David A. Burwick, sitting on the Board’s Compensation Committee and Nominating/Governance Committee. Mr. Jordan will serve as an independent Class A Director, a new seat recently added to the Board, sitting on the Audit Committee and the Compensation Committee.

Biz Stone is an entrepreneur known best as co-founder of Twitter, Medium, Jelly, and the investment firm Future Positive. He is a Visiting Fellow at The University of Oxford, an award-winning filmmaker, and author. He has been honored with the International Center for Journalism Innovation Award, INC Magazine named him Entrepreneur of the Decade, TIME listed him as one of the 100 Most Influential People in the World, and GQ named him Nerd of the Year.

Joe Jordan currently serves as President - U.S. and Global Services for Domino’s, a global food services chain based in Ann Arbor, Mich., a position he has held since 2022. In this role, he oversees Domino's U.S. business and key global centers of excellence. He has been with Domino’s since 2011, including as Executive Vice President – International from 2018 to 2022; Senior Vice President and Chief Marketing Officer from 2015 to 2018; and Vice President of Innovation from 2011 to 2014. Prior to joining Domino's, Mr. Jordan worked at PepsiCo North America for six years, where he last served as a Senior Director of Marketing. Prior to PepsiCo, he held marketing roles at Philips Electronics and Unilever, and was a consultant for Accenture in Washington D.C.

“We’re pleased to welcome Biz and Joe to our Board of Directors,” said Boston Beer Company Chairman, Founder, and Brewer Jim Koch. “I expect that Biz will bring significant entrepreneurial, technical, and innovative experience, while Joe will bring impressive brand management, consumer packaged goods industry, and innovation expertise to the Board.”

Boardspan Inc., a leading provider of board and governance expertise through cloud-based and traditional advisory services, advised the Company on the appointment of Mr. Stone and Mr. Jordan.

About Boston Beer Company

The Boston Beer Company, Inc. (NYSE: SAM) began brewing Samuel Adams beer in 1984 and has since grown to become one of the largest and most respected craft brewers in the United States. We consistently offer the highest-quality products to our drinkers, and we apply what we’ve learned from making great-tasting craft beer to making great-tasting and innovative “beyond beer” products. Boston Beer Company has pioneered not only craft beer but also hard cider, hard seltzer and hard tea. Our core brands include household names like Angry Orchard Hard Cider, Dogfish Head, Truly Hard Seltzer, Twisted Tea Hard Iced Tea, and Samuel Adams. We have taprooms and hospitality locations in California, Delaware, Massachusetts, New York and Ohio. For more information, please visit our website at www.bostonbeer.com, which includes links to our respective brand websites.

Attachments

• Joe Jordan
• Biz Stone

FAQ

Who are the new board members appointed by Boston Beer Company (SAM)?

Boston Beer Company (SAM) has appointed Biz Stone, co-founder of Twitter, and Joe Jordan, President of U.S. and Global Services at Domino's, to its Board of Directors effective July 29, 2024.

What positions will Biz Stone and Joe Jordan hold on SAM's board?

Biz Stone will serve as an independent Class B Director on the Compensation and Nominating/Governance Committees. Joe Jordan will serve as an independent Class A Director on the Audit and Compensation Committees.

How might these new appointments benefit Boston Beer Company (SAM)?

These appointments are expected to bring significant entrepreneurial, technical, and innovative experience from Biz Stone, and brand management, consumer packaged goods industry, and innovation expertise from Joe Jordan, potentially strengthening SAM's strategic capabilities.

When did the new board appointments for Boston Beer Company (SAM) take effect?

The appointments of Biz Stone and Joe Jordan to Boston Beer Company's (SAM) Board of Directors took effect on July 29, 2024.