Boston Beer stock falls as CFO Reynoso to depart

Boston Beer Company's stock experienced a 4% decline on Friday following the announcement that Chief Financial Officer Diego Reynoso would be leaving the company on September 14 to explore new opportunities. In preparation for Reynoso's departure, Matt Murphy, the current Chief Accounting Officer, will step into the role of Interim Chief Financial Officer and Treasurer starting September 15.

Murphy, who joined Boston Beer in 2006 as a Corporate Controller, was appointed Chief Accounting Officer in 2015 and had previously served as an Interim CFO in 2023 prior to Reynoso's appointment. The company has initiated a search for a new Chief Financial Officer and is open to considering both internal and external candidates.

Reynoso, who had been CFO for three years, played a key role in implementing productivity initiatives and managing the company's financial operations. Founder, Brewer, Chairman, and CEO Jim Koch praised Reynoso's disciplined financial leadership, emphasizing that he has left the company with a strong financial foundation.