AB InBev managers will take all but one of the 19 key positions in the Executive Board of Management, who will all report to Carlos Brito, CEO.
The new ‘megabrew’ company will be divided into nine geographical zones. The Executive Board of Management will consist of ‘Zone Presidents’ alongside ‘Functional Chiefs’.
AB InBev’s acquisition of SABMiller is due to complete on October 10, 2016. Completion of the merger remains subject to a number of conditions, including approval of AB InBev and SABMiller shareholders.
The new group will be headquartered in Leuven, Belgium (where AB InBev is already headquartered) with a Global Functional Management in New York.
A statement from AB InBev adds: “Following the completion of the combination, it is intended that a presence will be retained in SABMiller’s UK offices in Woking for people working on integration and business continuity for a transitional period, allowing the combined group to fully capture synergies and best practices while continuing to grow the business.
“Any changes would be implemented with due respect for applicable legal and works council considerations and consultation requirements.”
The nine geographical zones will be as follows:
- North America (headquarters - St. Louis): US and Canada
- Middle Americas (headquarters - Mexico City): Mexico, El Salvador and Honduras
- Latin America North (headquarters - São Paulo): Brazil, the Dominican Republic, Guatemala, Panama, St. Vincent, Cuba, Puerto Rico, Barbados, Dominica and the Caribbean
- Latin America South (headquarters - Buenos Aires): Argentina, Uruguay, Chile, Paraguay and Bolivia
- Latin America COPEC (headquarters - Bogotá): Colombia, Peru and Ecuador
- Europe (headquarters - Leuven): UK, Ireland, France, Italy, Spain, Germany, Belgium, Luxembourg, the Netherlands, Switzerland, Austria, Ukraine, Russia and Export Europe and Middle East (EEME)
- Asia Pacific North (headquarters - Shanghai): China, South Korea and Japan
- Asia Pacific South (headquarters - Melbourne): Australia, New Zealand, India, Vietnam and other South and Southeast Asian countries
- Africa (headquarters - Johannesburg): South Africa, Botswana, Swaziland, Mozambique, Malawi, Namibia, Zambia, Lesotho, Uganda, Ethiopia, African islands, Tanzania, South Sudan, Kenya, Nigeria and Ghana
AB InBev adds that existing SABMiller hubs in Miami, Hong Kong and Beijing are to be phased out within a few months of completion of the combination.
“The future of the SABMiller Europe hub in Zug [Switzerland] will be determined as part of the process of divestment of SABMiller’s Central and Eastern European businesses, which, as previously announced, would be implemented following completion of the combination.”
Sabine Chalmers, Chief Legal & Corporate Affairs Officer
Michel Doukeris, Chief Sales Officer (effective January 2017)
Felipe Dutra, Chief Financial & Technology Officer
Pedro Earp, Chief Disruptive Growth Officer
Claudio Garcia, Chief People Officer
Peter Kraemer, Chief Supply Officer
Tony Milikin, Chief Procurement Officer
Miguel Patricio, Chief Marketing Officer
David Almeida, Chief Integration Officer
Claudio Braz Ferro, Chief Supply Integration Officer
Jan Craps, Asia Pacific South
Jean Jereissati, Asia Pacific North (effective January 2017)
Mauricio Leyva, Middle Americas (Leyva is currently SABMiller’s chairman and managing director for South Africa)
Carlos Lisboa, Latin America South (effective January 2017)
Stuart MacFarlane, Europe
Ricardo Moreira, Latin America COPEC
João Castro Neves, North America
Bernardo Pinto Paiva, Latin America North
Ricardo Tadeu, Africa
November 11, 2015: AB InBev and SABMiller formalize the terms of AB InBev’s £71bn / $107bn offer for SABMiller (currency conversion using the exchange rate of the time).
June 24, 2016: Brexit: Following the EU referendum on the 23 June, the UK’s decision to leave the EU is announced.
July 26, 2016: AB InBev raises its offer for SABMiller, after Brexit results in a fall in the pound. This now values SABMiller at around £79bn ($103.4bn).
July 29, 2016: The deal receives regulatory clearance in China. Following the clearances announced in the EU, South Africa and US, all pre-conditions to the proposed combination have now been satisfied.
July 29, 2016: The SABMiller Board recommends that shareholders accept the revised takeover offer from AB InBev, although comments that the cash consideration of £45 per share is ‘at the lower end of the range of values considered recommendable.’
August 2, 2016: AB InBev and SABMiller set out a timeline for the merger, setting the date for completion of the deal as October 10, 2016.