February 6, 2020 / 12:39 AM / 18 days ago

AB InBev CFO Dutra to step down, Ambev's Tennenbaum to replace him

FILE PHOTO: Anheuser-Busch InBev Chief Financial Officer Felipe Dutra presents the company's results during a news conference in Leuven, Belgium March 1, 2018. REUTERS/Francois Lenoir

(Reuters) - Belgium-based beer maker Anheuser-Busch InBev (ABI.BR) said on Wednesday that Chief Financial Officer Felipe Dutra would step down and be replaced by Fernando Tennenbaum, the CFO of its Brazilian unit, Ambev SA (ABEV3.SA).

Tennenbaum will also join the executive committee of the company that makes Budweiser, Corona and Stella Artois. Dutra, who was CFO for almost 15 years, will remain with the company during a transition period, the company said.

Ambev, Latin America’s largest brewer, said in a statement that its new CFO would be Lucas Lira, who is currently Global VP Finance, M&A of Anheuser-Busch InBev.

Brazil was AB InBev’s second-largest market behind the United States as of late last year and the company saw its volume drop by 3% in that market in the third quarter.

The company has been selling assets and listed its Asian business in Hong Kong in September.

It also named David Almeida as chief strategy and technology officer and Nelson Jamel as chief people officer.

Reporting by Rama Venkat and Kanishka Singh in Bengaluru and Anthony Boadle in Brasilia; Editing by Chris Reese, Peter Cooney and Richard Chang

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