Company behind Jim Beam announces leadership transition

The executive who guided classic American whiskeys Jim Beam and Maker’s Mark through the transition of being acquired by a Japanese company four years ago has announced he’ll step down as CEO of spirits company Beam Suntory next spring.

Chicago-based Beam Suntory said Thursday that its top executive, Matt Shattock, will hand over CEO duties to Albert Baladi next April.

Baladi currently serves as Beam Suntory’s chief operating officer and president of North American operations.

During Shattock’s tenure, the company’s annual sales more than doubled to $4.3 billion.

Beam Suntory’s key brands include Kentucky bourbons Jim Beam and Maker’s Mark.

Beam Suntory says Shattock will remain a member of its board as nonexecutive chairman and a board member of beverage company Suntory Holdings, the Japanese-based parent company of Beam Suntory.