Boston Beer Announces Director Resignation
Boston Beer Announces Director Resignation
October 22, 2002 at 12:00 AM EDT
BOSTON (10/22/02) - The Boston Beer Company, Inc. (NYSE: SAM), brewer of Samuel Adams Boston Lager®, announced today that John B. Wing has resigned as a member of the Board of Directors. The resignation is effective today.
Mr. Wing was an initial investor in Boston Beer in 1984 and has served as a Director of the Company since its initial public offering in 1995. He has also continuously served as a member of the Company's Audit and Compensation Committees.
"John has been a part of The Boston Beer Company since it began," said Jim Koch, founder and Chairman. "His eighteen years of sound advice and wise guidance have been irreplaceable in moving the Company from its beginnings in my kitchen to a leader in the Better Beer category. I will personally miss John's presence and humor in the Boardroom."
"I have had the pleasure of watching the Company develop and grow well beyond anyone's original expectations," said Mr. Wing. In his resignation, Mr. Wing cited the increasing commitments on his time, brought about by the expansion of his Texas-based Wing Aviation, as making active participation as a Board member very difficult.
Mr. Wing's departure will leave six Directors on the Board. "We will take our time to try to find an appropriate replacement to fill John's shoes," said Mr. Koch.
The Boston Beer Company is America's leading brewer of world-class beer. Founded in 1984 by sixth generation brewer Jim Koch, the Company has won more than 200 international awards for its better tasting beers. Samuel Adams Boston Lager® is the Company's flagship brand, celebrated worldwide for its high-quality ingredients and traditional brewing techniques. The result is a beer renowned by drinkers for its full flavor, balance, complexity, and consistent quality. For more information, visit the web-site at www.samadams.com or visit www.bostonbeer.com for financial information.
Mr. Wing was an initial investor in Boston Beer in 1984 and has served as a Director of the Company since its initial public offering in 1995. He has also continuously served as a member of the Company's Audit and Compensation Committees.
"John has been a part of The Boston Beer Company since it began," said Jim Koch, founder and Chairman. "His eighteen years of sound advice and wise guidance have been irreplaceable in moving the Company from its beginnings in my kitchen to a leader in the Better Beer category. I will personally miss John's presence and humor in the Boardroom."
"I have had the pleasure of watching the Company develop and grow well beyond anyone's original expectations," said Mr. Wing. In his resignation, Mr. Wing cited the increasing commitments on his time, brought about by the expansion of his Texas-based Wing Aviation, as making active participation as a Board member very difficult.
Mr. Wing's departure will leave six Directors on the Board. "We will take our time to try to find an appropriate replacement to fill John's shoes," said Mr. Koch.
The Boston Beer Company is America's leading brewer of world-class beer. Founded in 1984 by sixth generation brewer Jim Koch, the Company has won more than 200 international awards for its better tasting beers. Samuel Adams Boston Lager® is the Company's flagship brand, celebrated worldwide for its high-quality ingredients and traditional brewing techniques. The result is a beer renowned by drinkers for its full flavor, balance, complexity, and consistent quality. For more information, visit the web-site at www.samadams.com or visit www.bostonbeer.com for financial information.