Canada-based Big Rock Brewery has named David Kinder as its new CEO and president following an interim CEO period of 14 months.
Kinder had been vice president of Anheuser-Busch InBev subsidiary Mill Street Brewing Company since 2018. Before Mill Street, Kinder held a vice president role with Amsterdam Brewing for two years and several senior leadership roles across business units in Coca-Cola’s North American business.
“I’m excited to be joining the Big Rock team,” Kinder said. “Big Rock Brewery is a pioneer of the Canadian craft industry with a history of producing high-quality beverages and bringing innovation to market.
“I look forward to pursuing all the upside that is present in Big Rock and building upon the company’s legacy of excellence.”
Big Rock has not had a permanent chief executive for more than a year. In October last year, chairman Stephen Giblin assumed the positions of president and CEO on an interim basis, replacing Wayne Arsenault, who had been at the helm since 2017.
Giblin said: “On behalf of the board and all the stakeholders at Big Rock, I am very pleased to welcome David. We are excited to have David’s 20-plus years’ experience in the beer and beverage industry along with his track record of delivering growth and operational excellence.”
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By GlobalDataJust Drinks has contacted Big Rock Brewery to clarify if Giblin will revert back to solely chairman.
Big Rock Brewery undertook a strategic review of the business in March, considering a “potential sale of all or part of the corporation’s assets”.
In its 2022 financial results, Big Rock Brewery reported a net revenue increase of 2% to C$47.1m ($34.7m). However, its operating costs for the year jumped from C$2m to C$6.9m.
The company posted a net loss of C$7.1m in 2022, significantly up on the previous year’s loss of C$3.4m.
In April, the Calgary-based brewer struck a deal to co-pack for an unnamed partner, a contract the company expected to boost its full-year revenue by more than 7%.
In the first half of 2023, Big Rock Brewery generated net revenue of C$23.3m, down 6% on the corresponding quarter a year earlier.
The group booked an operating loss of C$0.1m, compared to C$2m in the first six months of 2022. It posted a net loss of C$0.6m, against C$2m the year before.
