Craft Brew Alliance Announces Departure Of CFO
June 20 2018 - 4:00PM
Business Wire
Joseph K. Vanderstelt to assume similar role at
non-alcohol beverage company;
CBA will release second quarter financial
results August 8, 2018 as planned
Craft Brew Alliance, Inc. (“CBA”) (Nasdaq: BREW), a leading
craft brewing company, today announced that Joseph K. Vanderstelt,
chief financial officer, will be departing the company, effective
July 13, 2018. Mr. Vanderstelt has resigned his position at CBA to
accept another career opportunity on the east coast.
“Joe’s management and focus on building the right team with the
right level of experience and leadership have helped establish CBA
in the best financial health of our company’s history. We
appreciate his many contributions and wish him the best in his next
endeavor,” said Andy Thomas, Chief Executive Officer, CBA. “Looking
ahead, we feel really good about the team we have in place and
their continued strong financial stewardship and management of CBA.
As a result of their great work, CBA has never been in a stronger
position to invest behind our Kona Plus strategy and continue
moving the company forward.”
“It was not an easy decision to leave CBA, but I feel really
confident in the team that’s in place and their ability to continue
building on the strong progress we’ve made over the past few
years,” said Vanderstelt. “Given today’s increasingly complex and
challenging beer market, the work that Andy and the team have
accomplished is remarkable.”
CBA’s management will work with Mr. Vanderstelt over the coming
weeks to ensure a smooth transition of his responsibilities. In the
interim period until a new CFO is appointed, CBA remains confident
that its team will continue the strong financial stewardship and
management of the company.
In addition, CBA’s announced financial reporting calendar
remains unchanged, and the company will release its second quarter
financial results on August 8, 2018, with an investor conference
call on August 9, 2018, as planned.
About Craft Brew
Alliance
CBA is an independent craft brewing company that brews, brands,
and brings to market world-class American craft beers.
Our distinctive portfolio combines the power of Kona Brewing
Company, a dynamic, growing national craft beer brand, with strong
regional breweries and innovative lifestyle brands, Appalachian
Mountain Brewery, Cisco Brewers, Omission Brewing Co., Redhook
Brewery, Square Mile Cider Co., Widmer Brothers Brewing, and
Wynwood Brewing Co. CBA nurtures the growth and development of its
brands in today’s increasingly competitive beer market through our
state-of-the-art brewing and distribution capability, integrated
sales and marketing infrastructure, and strong focus on
partnerships, local community and sustainability.
Formed in 2008, CBA is headquartered in Portland, Oregon and
operates breweries and brewpubs across the U.S. CBA beers are
available in all 50 U.S. states and 30 different countries around
the world. For more information about CBA and our brands, please
visit www.craftbrew.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180620006203/en/
Craft Brew Alliance, Inc.Jenny McLean, 503-331-7248Director of
Communicationsjenny.mclean@craftbrew.com
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