- Carlos Brito is the CEO of the brewery group Anheuser-BuschInBev, which produces popular beers like Budweiser, Bud Light, Corona, and Stella Artois.
- AB InBev announced Tuesday that it is acquiring Kona Brewing Co. parent Craft Brew Alliance, according to the Wall Street Journal.
- Brito convinced former Brazil tennis star Jorge Paulo Lemann to fund his time at Stanford, according to the Financial Times.
- Visit Business Insider’s homepage for more stories.
The world’s largest brewer is about to get even bigger.
The brewery titan Anheuser-Busch InBev is said to be acquiring Craft Brew Alliance, according to the Wall Street Journal. The deal will add Kona Brewing Co., Omission Brewing Co., Redhook Brewery and Cisco Brewers., into AB InBev’s already extensive portfolio of beers.
Despite the ubiquity of the company, AB InBev’s Brazilian-born CEO is known to be extremely private. Keep reading to take a look into the life of Carlos Brito.
Carlos Alves De Brito, 59, was born in Brazil. He has said he uses his heritage to guide his business decisions.
Brito has cited Brazil’s business culture as a reason for AB InBev’s success, according to the BBC.
The Brazil-based InBev leadership team was known for its tendency to implement sharp cost-cutting measures without hesitation, the BBC reported. According to the Financial Times, Brito showed up at Anheuser-Busch’s St. Louis headquarters to start making changes just 24 hours after its acquisition by InBev was announced.
Brito now lives in New York, according to Fortune.
Brito has an MBA from the Stanford Graduate School of Business.
Brito earned a bachelor’s degree from the Universidade Federal do Rio de Janeiro, according to Bloomberg. Before getting his master’s at Stanford, he was an executive at Shell. Brito persuaded the former Brazil tennis star Jorge Paulo Lemann to fund his time at Stanford, according to the Financial Times.
He has since returned to Stanford to speak with MBA students,NBC News reported.
Brito is a private person.
The AB InBev leader rarely gives interviews, and not much is known about his personal life.
NBC News reported that the company even declined to confirm that Brito was married and had four children, saying “We don’t give details on his private life.”
Brito doesn’t have a lot of hobbies.
“My life is the company and my family,” Brito told the Financial Times.
He also said his only pastime was taking a daily 30-minute walk on a treadmill.
Most of his time is dedicated to Anheuser-Busch InBev, which he has run since 2008.
Brito first came to AmBev in 1989 and worked in finance, operations, and sales before becoming its chief executive in 2004.
InBev was formed in 2004, and Brito became the CEO of the company in 2005. In 2008, InBev acquired Anheuser-Busch, and Brito became the CEO of the larger group, Anheuser-Busch InBev.
Brito was paid 1.48 million euros, or $US1.6 million, by AB InBev in 2017, according to the Financial Times, in addition to his ownership of an options grant that was worth 250 million euros, or about $US469 million in today’s dollars, at the time.
Brito isn’t a fan of company perks, including free beer.
He doesn’t even take advantage of one of the more basic perks of running the world’s largest brewer: free beer.
“I don’t want the company to give me free beer,” Brito told Stanford MBA students in 2008, according to NBC News. “I can buy my own beer.”
Brito is known for his tough management style.
Brito asks that all employees’ performance be monitored constantly and formally reviewed each year, according to the Financial Times. He reportedly doesn’t hesitate to let go of employees who aren’t up to par if they don’t improve in six to nine months.
“Great people attract more great people,” Brito said, according to the BBC. “That’s obvious, but the opposite is even more dangerous. Mediocre people attract more of the same.”
AB InBev hasn’t always flourished under Brito’s leadership.
Brito and CFO Felipe Dutra lost their annual bonuses in 2017 after the brewer saw its first decline in core earnings since its formation, according to the St. Louis Business Journal.
Even so, AB InBev calls itself the world’s largest brewer.
AB InBev makes Budweiser, Bud Light, Corona, Stella Artois, and numerous other beers, according to its website.
The company held the world’s second-largest IPO of 2019 in Hong Kong on September 23, raising $US5 billion in a single day,Reuters reported. Only Uber’s May IPO was worth more.
Now, it’s getting even bigger. The company announced Tuesday that it is acquiring Kona Brewing Co. parent Craft Brew Alliance, according to the Wall Street Journal.
AB InBev already owns 31.2% of Craft Brew, and will close its $US321 million purchase of the rest of the company in fiscal year 2020, the Journal reported.
The move comes at a time when the company’s beer sales by volume in the US are seeing a decline. Part of that can be attributed, as Business Insider’s Kate Taylor previously reported, to millennials’ shifting interests: They are simply not drinking as much beer as past generations did.
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