Anheuser-Busch loses boardmember

Published: 23 July, 2008

Carlos Fernandez, Grupo Modelo Chairman and CEO Carlos Fernandez, has resigned from the Anheuser-Busch Board.
He announced his decision, effective immediately, at the end of last week (Friday June 20).

August A Busch IV, president and chief executive officer of Anheuser-Busch, said: "Carlos has always provided great value as a member of our board, with insights into the business. He remains a respected colleague."

The resignation reduces the Anheuser-Busch board to 13 members. Modelo is the importer and distributor of the Budweiser, Bud Light and O'Doul's brands in Mexico.

Separately, Anheuser-Busch announced it has acquired the remaining 50% ownership stake of Crown Beers India Ltd

The acquisition includes the joint venture's 500,000-hectoliter brewery in the southern city of Hyderabad.

"The Indian beer industry continues to grow at a rapid pace, and acquiring the remaining 50% of the Crown Beers joint venture reaffirms Anheuser-Busch's commitment to being a key player in this emerging beer market," said Tom Santel, president and chief executive officer, Anheuser-Busch International.

"As Crown International looks to focus on its other successful businesses, this move will continue to best position the Budweiser brand for long-term growth in India," Santel concluded.

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