CRAFT BREW ALLIANCE TAPS BEER INDUSTRY VETERAN AS NEW CFO
April 20, 2015
Joe Vanderstelt Brings Deep Financial and Operational Experience in Beer, Beverage and Consumer Packaged Goods
Portland, OR (April 20, 2015) – Craft Brew Alliance, Inc. (“CBA”) (Nasdaq: BREW), a leading craft brewing company, announced today the appointment of Joe Vanderstelt as Chief Financial Officer, who will join the company on April 27, 2015. In his role, Vanderstelt will oversee all financial operations and investor relations activities for the Company. He will report directly to CBA CEO Andy Thomas.
A 20-year veteran in the beer industry, Vanderstelt brings extensive experience in both operational and strategic financial management. Since 2010, he served as Senior Director, Finance & Planning for MillerCoors, where he led the development of financial and business strategies for the company’s craft/import division, Tenth and Blake. In this role, he was responsible for the start-up, operating, financial, and M&A strategies associated with delivering the division’s annual revenue, market share, and profit targets.
“We couldn’t be more pleased and excited to welcome Joe to the team,” said Thomas. “In addition to his strong financial background, Joe has an extensive, proven track record within the beer industry that spans financial and strategic planning, operations, risk management, general management, and M&A strategy and integration. His experience at building revenue-growth businesses, while increasing profitability and pursuing smart acquisitions, will be essential as we continue to forge the next phase of CBA’s future and achieve our long-term growth and gross margin targets. Additionally, many of us have had a chance to grab a beer with him, and he’s truly a terrific guy who will fit right in around here.”
From 2008 to 2010, Vanderstelt served as Senior Director, Marketing Finance, supporting all U.S. business units during the inception of MillerCoors. Prior to that, he was Director, Marketing Finance of Miller Brewing Company from 2006 to 2008, where he was responsible for financial planning and budgeting, accounting, financial forecasting, and resource allocation. From 2001 to 2006, he served in several management roles for Miller Brewing Company, including General Manager of two business units in California and Nevada from 2004 to 2006. Previously, he was General Manager at Vanderplow Distributing Company, a beer and wine wholesaler serving nine counties across western and northern Michigan. Vanderstelt received his BA in Business Administration from Baker College in Muskegon, Michigan and is a certified public accountant.
“I am very impressed by the caliber and chemistry of CBA’s leadership. The heritage of its breweries and passion of its founders provides unique assets during an opportune time in the beer business,” said Vanderstelt. “I look forward to working with Andy and the team to seize this opportunity.”
About Craft Brew Alliance
CBA is a leading craft brewing company, which brews, brands and markets some of the world’s most respected and best-loved American craft beers. The company is home to three of the earliest pioneers in craft beer: Redhook Ale Brewery, Washington’s largest craft brewery founded in 1981; Widmer Brothers Brewing, Oregon’s largest craft brewery founded in 1984; and Kona Brewing Company, Hawaii’s oldest and largest craft brewery founded in 1994. As part of Craft Brew Alliance, these craft brewing legends have expanded their reach across the U.S. and more than 15 international markets.
In addition to growing and nurturing distinctive brands rooted in local heritage, Craft Brew Alliance is committed to developing innovative new category leaders, such as Omission Beer, which is the #1 beer in the gluten free beer segment, and Square Mile Cider, a tribute to the early American settlers who purchased the first plots of land in the Pacific Northwest.
Publicly traded on NASDAQ under the ticker symbol BREW, Craft Brew Alliance is headquartered in Portland, OR and operates five breweries and five pub restaurants across the U.S. For more information about CBA and its brands, please visit www.craftbrew.com.
Craft Brew Alliance, Inc.
Craft Brew Alliance, Inc.