Feb 29, 04:50 AM

Boston Beer CEO Retires as $SAM Stock Drops 9.7% Amid Losses

Boston Beer Company has announced the retirement of its Chief Executive, Dave Burwick, after nearly six years at the helm. This leadership change comes as the company reported a significant financial downturn, with a loss of $18.1 million over a three-month span and a 12% year-over-year decline in revenues. The decline in revenues is attributed to lower shipment volumes, leading to a 10% drop in pre-market trading for Boston Beer's stock, identified by its ticker symbol $SAM. The company's stock further declined by approximately 9.7% in pre-market trading following the announcement of its fourth-quarter results.

#Boston Beer Company #Dave Burwick #Boston Beer

Written with ChatGPT (GPT-4).