AB InBev has announced that chief financial officer Felipe Dutra will step down and be replaced by Fernando Tennenbaum, the CFO of its Brazilian subsidiary Ambev.
The change will be effective as of 29 April 2020 and Dutra will remain with the company during a transition period of several months after the succession is effective.
“Felipe’s contributions to AB InBev are hard to overstate,” said CEO Carlos Brito. “Since becoming CFO in 1999 of what was then Brahma, he has embodied the spirit of true ownership and has been the architect of our company’s financial strategy, our risk management policy and our drive to deliver best-in-class cash flow and shareholder value.”
A 15-year veteran of AB InBev, Fernando Tennenbaum currently serves as vice president of finance for the company’s South America zone alongside his Ambev position.
A Brazilian and German citizen, he holds a degree in industrial engineering from Escola Politécnica de São Paulo and a corporate MBA from Ambev.
AB InBev said he played “a key role” in the combination with SAB, leading the funding of the deal and managing of the company’s debt profile.
“We would like to congratulate Fernando on being appointed our CFO,” said Brito. “With deep functional expertise and strong technical knowledge, he is uniquely qualified to lead our finance function and actively support topline growth through solid financial management.
“Fernando’s mandate will be to ensure AB InBev continues to invest behind the organic growth of the business while deleveraging toward the optimal capital structure.”
Tennenbaum added: “I would like to thank Brito and the board for this opportunity and their confidence. I am grateful to Felipe for his leadership and friendship over the last 15 years. I could not be more excited to take on this challenge and look forward to working with the strong team at AB InBev to drive our value creation agenda.”
Alongside the appointment, AB InBev has named David Almeida as chief strategy and technology officer and Nelson Jamel chief people officer.
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