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AB InBev finance chief to step down after nearly 30 years

Feb 06 2020 13:59
Phumi Ramalepe

Multinational beverage company, Anheuser-Busch InBev, announced on Thursday that its Chief Financial and Technology Officer Felipe Dutra would step down to be replaced by Fernando Tennenbaum.

The incoming CFO to replace Dutra has been working in the company for 15 years. He is the current Vice President of Finance for AB InBev’s South America Zone, as well as Chief Financial and Investor Relations Officer of Ambev SA the company’s Brazilian subsidiary.  

“We would like to congratulate Fernando on being appointed our CFO. With deep functional expertise and strong technical knowledge, he is uniquely qualified to lead our Finance function and actively support top-line growth through solid financial management,” said CEO Carlos Brito.

“Fernando’s mandate will be to ensure AB InBev continues to invest behind the organic growth of the business while de-leveraging toward the optimal capital structure,” Brito added.

On Dutra's contribution, Brito said: "Felipe’s contributions to AB InBev are hard to overstate. Since becoming CFO in 1999 of what was then Brahma, he has embodied the spirit of true ownership and has been the architect of our company’s financial strategy, our risk management policy and our drive to deliver best-in-class cash flow and shareholder value. Felipe’s contributions to our value creation are significant and wide-ranging."

According to the company, the changes in leadership are part of its "well-established succession plan" and will be in effect as of April 29 this year after the Annual Shareholders’ Meeting.  

“Felipe’s departure is bittersweet. For nearly 30 years, he has been a champion of our company and a fantastic partner to me and the members of our Senior Leadership Team as we grew the company. Felipe feels that now is the right time to embark on new projects, and we are respectful of his decision,” Brito added.

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