“I can’t thank Dave enough for his partnership with me and for his contributions to Boston Beer over the past two decades,” Koch continued. “His steady leadership, talent, work ethic, values, guidance and motivation have been unwavering, and I appreciate all he did to make Boston Beer a more successful company and a better place to work.”

During Burwick’s tenure as CEO, Boston Beer’s revenue more than doubled and its stock generated average annual returns of 12%, it says. Burwick architected Boston Beer’s vision and long-range plan to address evolving consumer needs, helping build two billion-dollar brands in Twisted Tea and Truly and driving Boston Beer to the No. 2 position in the “beyond beer” space while strengthening the company’s ability to compete head on with many global beverage behemoths. He also created new-to-world partnerships with PepsiCo and Beam Suntory to further bolster the company’s brand portfolio in emerging categories, and he consistently modeled Boston Beer’s open, empathetic, and learning-based culture.

“Now that our momentum is building and we’re back on track with great plans ahead for ‘24, it’s the right time for me to move on,” Burwick stated. “I’m fortunate to have been connected to this company for 19 years and I’m especially appreciative of the talented, committed, and passionate people of Boston Beer ― none more than Jim ― who have taught me so much about leadership and about myself. Boston Beer has a unique and powerful culture and I’m confident the company is in great hands to take advantage of the opportunities ahead.”

Spillane, who joined Boston Beer’s board in 2016, has a broad business background with extensive consumer goods experience. During the past 17 years, he has held senior positions at Nike Inc., most recently as president of consumer creation and prior to that as president of product and merchandising. Additionally, he served as president and CEO of subsidiaries Umbro and Converse, as well as general manager of Greater China. He brings deep experience in the integration of product, brand, marketplace, supply chain and in-store execution. He has been Boston Beer’s lead director since May 2023 after serving as chair of the compensation committee from 2016 to 2023. He also currently serves as a director at Supergoop, a premium skin care product company.

“Michael’s strong track record as a consumer executive and his experience on our board make him the ideal person to lead Boston Beer as we continue to forge ahead in a rapidly evolving beer industry,” Koch said. “Given his already extensive knowledge of our company and our culture, we expect Michael to hit the ground running as he steps in to help lead us into our next chapter.”

Spillane added: “After nearly eight years on the Boston Beer Board ― and as a native of the Boston area ― I’m thrilled for the opportunity to help advance Boston Beer’s long-term goals as we enter a new growth phase. I am grateful for Dave’s leadership and partnership and I’m looking forward to working with Jim and so many other great people at Boston Beer to build on the strong foundation and culture that Jim, Dave and all of our coworkers have built over the course of four decades.”