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Belgian brewing giant Anheuser-Busch InBev has named a new chief executive for its South Korean operations, Oriental Brewery Co. said Monday.
Ben Verhaert, president of AB InBev's South Asian operations, will be replacing OB CEO Bruno Cosentino who will move to the Belgian beverage firm's African operations as chief marketing officer, OB said in a statement. He will start in the new post in January,
Verhaert, 41, a native of Belgium, has built up his career mainly in the sales and logistics fields at the world's largest brewer since 2001, the statement said.
He studied business administration at Catholic University of Leuven in Belgium, it said.
In South Korea, OB accounts for about 60 percent of the beer market, with imported beer brands at about 10 percent. OB is gaining more ground fueled by growing consumer demand.
OB posted a net profit of 380.55 billion won (US$324 million) in 2018, up 16 percent from 327.18 billion won a year earlier, helped by robust sales of its Cass beer products.
Operating profit rose 4.1 percent to 514.52 billion won from 494.09 billion won during the same period. Sales gained 2 percent to 1.698 trillion won from 1.664 trillion won. (Yonhap)
