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Carlos Brito (businessman)

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Carlos Brito
Brito in 2011
Born
Carlos Alves de Brito

(1960-05-08) 8 May 1960 (age 64)
Rio de Janeiro, Brazil
Alma materFederal University of Rio de Janeiro
Stanford University
Occupation(s)CEO, Belron
Term2023–present
SpouseBelinda Brito
Children4

Carlos Alves de Brito (born 8 May 1960) is a Brazilian businessman who is CEO of Belron, and was CEO of Anheuser-Busch InBev from 2008 to 2021.[1]

Early life and education

Born on 8 May 1960 in Rio de Janeiro, Carlos Alves Brito, a Brazilian citizen, was educated at St. Ignatius College, holds a degree in mechanical engineering from the Federal University of Rio de Janeiro, and an MBA from Stanford Graduate School of Business.[2][3][4]

Brito has described Jorge Paulo Lemann as a mentor.[5]

Career

Brito was named on Barron's list of the world's 30 best CEOs in 2012. Barron's said, Brito "has turned a South American brewer into the globe’s largest beer company, capped by the $52 billion purchase of Anheuser-Busch in 2008. Already, he’s boosted that unit’s profit margins by 10 percentage points.”[6]

AmBev

After graduating, Brito worked for Shell Oil and Daimler Benz. In 1989, he joined Brazilian beer and soft drinks company Brahma,[7] which merged in 1999 with Companhia Antarctica Paulista to form AmBev.[8]

At Ambev, Brito held various positions in finance, operations and sales, before being appointed CEO in January 2004.[9] Headquartered in São Paulo, Ambev became Brazil's largest beer company.[10]

InBev

In 2004, AmBev merged with Belgium’s Interbrew, owner of traditional beer brands Beck's and Stella Artois, to create InBev.[11]

Brito was appointed Zone President North America in January 2005 and then CEO in December 2005. InBev’s earnings margin (before taxes and depreciation) rose from 24.7 percent in 2004 to 34.6 percent in 2007. Its stock price nearly tripled during the same period.[12]

AB InBev

In July 2008, Anheuser-Busch’s board of directors accepted InBev’s takeover bid of $52 billion, or $70 per share. Brito led the transaction and remained CEO of the enlarged group.[13]

Brito sold $9.4 billion in Anheuser-Busch assets, including Busch Gardens and SeaWorld. Trevor Stirling, a beer industry analyst at Bernstein Research (AB), said Brito made the company "enormously more profitable."[12]

In October 2016, Brito led the acquisition of SABMiller at a purchase price of $102.85 billion, one of the largest corporate mergers in history. The deal was backed by 95% of SABMiller shareholders.[14] Brito remained CEO of what is now the world's largest brewer, with approximately 170,000 employees producing more than 25% of the world's beer, including the labels Stella Artois, Corona and Budweiser.[15][16][17]

In July 2021, Brito left AB InBev and was succeeded as CEO by Michel Doukeris.[18] During Brito's tenure as CEO, from 2005 to 2020, AB InBev's market capitalization increased from $26 billion to $141 billion, annual revenue increased from $14.5 billion to $46.88 billion, normalized EBITDA increased from $4.14 billion to $17.32 billion, and normalized EBITDA margin increased from 28.6% to 36.9%.[19]

Personal life

Brito lives in Greenwich with his wife.[20] They have four children.[2]

References

  1. ^ "Anheuser-Busch InBev Announces Completion of Combination with SABMiller". AB-InBev. Anheuser-Busch InBev SA/NV. October 11, 2016. Archived from the original on February 11, 2017. Retrieved February 8, 2017. Anheuser-Busch InBev SA/NV ("AB InBev", formerly Newbelco SA/NV ("Newbelco")) (Euronext: ABI) (NYSE: BUD) (MEXBOL: ANB) (JSE: ANH) is pleased to announce the successful completion of the business combination with SABMiller plc ("SABMiller") (the "Combination")
  2. ^ a b Evans, Peter (July 7, 2019). "Carlos Brito exclusive interview: AB InBev boss has a thirst for growth". The Sunday Times.
  3. ^ BBC NEWS | Business | The Brazilian recipe for brewing success
  4. ^ "Our Team". ABInBev. October 11, 2016. Retrieved February 8, 2017.
  5. ^ "Anheuser Busch Inbev NV (BUD) Summary". Reuters. Thomson Reuters. February 8, 2017. Retrieved February 8, 2017.
  6. ^ Weiderman, Greta (March 27, 2012). "Barron's picks A-B InBev CEO Brito as one of world's 30 best". BizJournals.com. Retrieved May 23, 2022.
  7. ^ A Budweiser é nossa Archived 2011-07-06 at the Wayback Machine, planetasustentavel.abril.com.br, retrieved 17 September 2015 (Portuguese)
  8. ^ InBev - Who's Who Archived July 2, 2008, at the Wayback Machine
  9. ^ "Global Brewer CEO Carlos Brito to Deliver 2018 Commencement Address at Stanford's Business School". Business Wire. February 27, 2018. Retrieved May 23, 2022.
  10. ^ Araujo, Gabriel (May 5, 2022). "Brazilian brewer Ambev posts Q1 earnings beat as volumes grow". Reuters. Retrieved May 23, 2022.
  11. ^ "Anheuser Busch Inbev NV (BUD) Summary". Reuters. Thomson Reuters. February 8, 2017. Retrieved February 8, 2017.
  12. ^ a b The Plot to Destroy America's Beer, businessweek.com, retrieved 17 September 2015
  13. ^ Who's Who at AB InBev Archived 2016-10-06 at the Wayback Machine, am-inbev.com, retrieved 17 September 2015
  14. ^ Geller, Martinne (September 28, 2016). "SABMiller investors cheer $100 billion-plus AB InBev takeover". Reuters. Retrieved May 23, 2022.
  15. ^ "Anheuser-Busch InBev Announces Completion of Combination with SABMiller". AB-InBev. Anheuser-Busch InBev SA/NV. October 11, 2016. Archived from the original on February 11, 2017. Retrieved February 8, 2017. Anheuser-Busch InBev SA/NV ("AB InBev", formerly Newbelco SA/NV ("Newbelco")) (Euronext: ABI) (NYSE: BUD) (MEXBOL: ANB) (JSE: ANH) is pleased to announce the successful completion of the business combination with SABMiller plc ("SABMiller") (the "Combination")
  16. ^ "Anheuser Busch Inbev NV (BUD) Summary". Reuters. Thomson Reuters. February 8, 2017. Retrieved February 8, 2017.
  17. ^ Buckley, Thomas (March 9, 2019). "Major brewer to spend more on marketing". Valley News. Retrieved May 23, 2022.
  18. ^ "Anheuser-Busch InBev Announces CEO Succession: Michel Doukeris named CEO effective 1 July, 2021 Carlos Brito to step down after 15 years as CEO" (PDF). Retrieved 21 April 2023.
  19. ^ "Carlos Brito" (PDF). AB InBev. 2021. Retrieved May 24, 2022.
  20. ^ "Two Leading Greenwich Residents Named Corporate Co-Chairs of CAMFED Gala". Greenwich Free Press. April 28, 2019. Retrieved May 23, 2022.
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