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ST. LOUIS, Sept. 27 (UPI) -- Anheuser-Busch Cos. Inc. of St. Louis named August A. Busch IV as its new chief executive, the fifth generation of the family to run the beer company.
Effective, Dec. 1, Busch IV, 42, succeeds Patrick Stokes, 64, who has held the chief executive's job since July 2002. Busch has led the domestic beer operations since 2002.
Stokes has been named chairman of the board, effective Dec. 1, 2006, succeeding August A. Busch III. Stokes and Busch III will both retire from their executive functions at the company on Nov. 30, 2006. Busch III will continue to serve on Anheuser-Busch's board.
Busch IV is the fifth generation of Busch family members to lead the company. His great-great grandfather was Adolphus Busch, who co-founded the company. Adolphus Busch married Lilly, the daughter of Eberhard Anheuser, who had purchased the brewery in 1860.
Anheuser-Busch is the largest U.S. beer company and owns about half the nation's beer market.
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