Boston Beer Co. Inc. Appoints Phil Hodges as new COO

By Tamara Parker • Tuesday, October 21 06:06 • Permanent Link

The Boston Beer Company (NYSE: SAM) has announced a change in leadership, with Phil Hodges being appointed as the new Chief Operating Officer (COO). Hodges, who previously served as the Chief Supply Chain Officer (CSCO), brings over 30 years of experience in the consumer packaged goods (CPG) industry to his new role.

Since assuming the position of CSCO in May 2023, Hodges has overseen significant improvements in the company's supply chain, leading to enhanced service levels and efficiency gains in its breweries and procurement. These improvements have resulted in strong gross margin expansion for the company.

In his new capacity as COO, Hodges will expand his responsibilities to oversee day-to-day operations across all functions and focus on executing the company's brand building and margin enhancement initiatives. Meanwhile, Jim Koch, the founder, brewer, CEO, and chair of the board, will continue in his role as CEO, focusing on high-impact areas such as the company's innovation pipeline, wholesaler relations, brand investment strategy, and talent and culture.

As part of this leadership change, Phil Savastano has been promoted to the position of Chief Supply Chain Officer, where he will oversee brewery management, procurement, customer service, engineering, safety, quality, and planning, reporting directly to Hodges.

The company, known for its flagship brand Samuel Adams, has expanded its portfolio to include other popular beverages such as Angry Orchard hard cider, Dogfish Head, Sun Cruiser, Truly hard seltzer, and Twisted Tea hard iced tea.

These leadership changes come as the Boston Beer Company continues to innovate and expand its offerings beyond craft beer, venturing into products like hard cider, hard seltzer, and hard tea.

The company's commitment to operational excellence and strategic leadership realignment underlines its dedication to improving volume trends and creating long-term shareholder value. Following these announcements, the company's shares moved -0.84%, and are now trading at a price of $223.83. For the full picture, make sure to review BOSTON BEER CO INC's 8-K report.

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