Xiaoshidai noticed that the new leader of the world’s largest brewer has a very deep relationship with the Chinese market: he is Deng Mingxiao, a “veteran” from within the company.
According to the latest announcement released by Budweiser group, the current president of North America, Michel doukeris (Chinese Name: Deng Mingxiao), will take over the post of Global CEO from July 1. Carlos Brito, the current chief executive, will leave after 32 years at Budweiser and 15 years as chief executive. Budweiser’s share price rose significantly after the turnover and the better than expected first quarter sales.
Martin Barrington, chairman of the board of directors of Budweiser group, described him as “an architect who has cleverly integrated many of Budweiser’s businesses” and said that he has built the company into a leading beer company in the world.
The new coach of Budweiser group has a high reputation not only in the company itself, but also in the whole beer industry.
Statistics show that Deng Mingxiao has held important leading positions in the three largest markets of Budweiser group: Brazil, China and the United States. He has successively served as president of Asia Pacific region, global chief sales officer of Budweiser group and President of North America region.
As the president of Asia Pacific region, Deng Mingxiao accelerated the growth of turnover, sales volume and pre tax, interest, depreciation and amortization profit, and implemented the business strategy of “the high end” in the transformation of high-end brand market access in China. In addition, he has successfully launched the company’s first e-commerce platform directly for consumers.
According to xiaoshidai, Deng Mingxiao was appointed president of AB InBev China in January 2010. During his seven years in charge of the Chinese market, the Chinese business has achieved significant accelerated growth. Budweiser officials once described that Deng Mingxiao helped build China into the fastest growing market of Budweiser, and the “high end” business strategy was initially created in China, and then extended to the United States and 22 countries.
According to the report of Global Entrepreneur in 2014, Deng Mingxiao has a “meticulous style”. When she goes to a city, she drives her car to a street with a large flow of people, and then “walks” the restaurants, supermarkets and even grocery stores on the street. What he often says is “everything starts with consumers.” he thinks that if we can understand the ideas of consumers and really know their needs, we can better adjust the organizational structure of the company and serve the needs of consumers.
In addition, this report also pointed out that he likes standardization and planning, and hopes to manage in an orderly way. Since 2010 when it was transferred to China, Budweiser group’s market share and sales volume in China have maintained a stable growth every year.
In today’s briefing, Budweiser group described Deng Mingxiao as “very suitable for accelerating the transformation of Budweiser group and leading the next round of growth”. He himself said that in the future, he will continue to promote the next stage of innovation and transformation based on the concept of “consumer first”.
As for Brazilian Bo ruituo, who is about to retire, the industry is full of thunder. Born in 1960, he joined the Brazilian American beverage company in 1989 and was appointed CEO in January 2004. In August 2004, he was president of InBev North America. In December 2005, he was appointed CEO of AB InBev.
During his term of office, Bo ruituo carried out a series of large-scale acquisitions that shocked the global beer industry, including the acquisition of Budweiser by InBev in 2008, the full control of Grupo modelo in Mexico in 2013, and the 100 billion alliance of Budweiser with SAB Miller in 2015, which eventually made the world’s two largest Brewers a family, And it directly led to the separation of China Resources beer and SAB Miller, a foreign partner that has cooperated for many years.
During Bo ruituo’s term of office, China became the world’s largest and fastest-growing beer market in 2010, and Budweiser group also accelerated its pace of development and took advantage of the Chinese market.
in China, Budweiser expanded rapidly mainly through self built production capacity and merger and acquisition, and successively acquired many local beer brands such as Harbin beer and Xuejin. Budweiser is also the second largest shareholder of Zhujiang Beer. This makes Bo Rui An “old acquaintance” of China’s beer industry. In 2014, some media revealed that Bo ruituo would visit China three to four times a year on average, but sometimes he would stay for half a month to solve a problem.
In addition, Bo ruituo also vigorously promotes high-end products in China. He once said that when Budweiser InBev first landed in China 30 years ago, there was almost no high-end beer market, but with the expansion of the middle class in China, this strategy has proved to be a “wise choice”.
He stressed that in China’s beer market, the continuous high-end strategy has brought about the growth of sales volume and revenue, as well as the expansion of market share and the continuous rise of profit margin.
As for the change, Reuters pointed out today that it was just at this time when Budweiser group shifted its focus from acquisition to promoting sales growth. Wall Street analysts believed that investors would not be surprised by the personnel change. Deng Mingxiao was originally the rumored candidate “number one”, especially with a good record in the Chinese market.
The Wall Street Journal believes today that Bo ruituo’s departure marks the end of an era of beer industry. In this era, the world’s largest beer producer “madly buys” beer brands across the world, gaining more profits from the depressed developed beer market on the one hand, and penetrating into the fast-growing emerging economies on the other.
“Budweiser now sells more than a quarter of the world’s beer. However, this business model is being challenged as consumers in the United States and elsewhere move from mainstream beer to craft beer, wine and spirits. ” According to the Wall Street Journal, the company is also coping with the uncertainty brought about by the epidemic, as well as the huge debt brought about by the acquisition of rival SAB Miller for more than $100 billion in 2016.
Step by step, Bo ruituo has built Budweiser into a beer industry giant with more than 500 brands. His era of CEO has finally come to an end. Let’s see Deng Mingxiao.
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It’s settled! Deng Mingxiao will be the Global CEO of Budweiser group