 ANHEUSER-BUSCH INBEV ANNOUNCES ITS INTENTION TO ESTABLISH AN OFFICE IN NEW YORK
Proposal to establish a functional management office in New York to better support the needs of the new combined organization. The NY office would have an operational focus supporting the business in the implementation of the Company's strategy under the direction of the Global Headquarters and center of strategic Decision-Making in Leuven
Anheuser-Busch InBev (Euronext: ABI) today announced its intention to establish a functional management office in New York to better support the needs of the combined global organization. This office would have an operational focus supporting the business in the implementation of the Company's strategy under the direction of the Global Headquarters and center of strategic Decision-Making in Leuven.
New York: Functional Management Office
The creation of Anheuser-Busch InBev will generate significant growth opportunities from leveraging the company's combined brand portfolio, including its global flagship brands Budweiser, Stella Artois and Beck's, its leading global distribution network and by applying best practices across the new organization. In addition, over 40% of the newly combined company's earnings are now generated in the United States, which has become the company's largest market.
The establishment of an office in New York would enable management to better support the realization of these opportunities and day-to-day management of the business. The office would host functional management heads together with members of their marketing, finance, people, supply and legal teams.
Leuven: Global Headquarters and Centre of Strategic Decision-Making
Anheuser-Busch InBev is a Belgium-based company listed on Euronext Brussels. Leuven is home to the company's Global Headquarters and the company's center of strategic Decision-Making and primary office.
Critical activities in Belgium include all strategic Decision-Making and shareholder related activities. This includes all shareholders' meetings, the majority of the regular meetings of the Board of Directors, of the Board Committees that directly support the Board of Directors, and of the Executive Board of Management. The CEO, CFO and all global functional heads will also maintain an office in Leuven.
In addition to the global strategy and sales team, important activities within the finance, legal and technical functions are based in Leuven, together with the Research & Development facility, including the Global Innovation & Technology Center (GITeC), which takes the lead in global Research and Development.
Consultation and Commitment to Implement any Changes in a Socially Responsible Way
The Works Council of Leuven has been informed of this intention and the potential impact this could have on levels of employment at the Leuven-based Global Headquarters. In addition to the potential impact on some employees currently on expatriate assignment in Belgium, the roles of maximum 89 locally based employees could potentially be affected. However, a substantial transition period will enable the identification of as many alternative internal employment opportunities as possible, e.g. within the Belgian or Western Europe Zone organizations - both based in Leuven - for those employees who would not have a role in the Global Headquarters or in the New York office.
The intended changes only relate to the company's Global Headquarters and will not affect the Belgium-based headquarters of the Western European Zone, the Belgian business unit or the Belgian breweries. Anheuser-Busch InBev remains fully committed to Belgium and would continue to employ approximately 2900 people in Belgium.
The intention which was announced today will be the subject of consultation with the company's social partners. Anheuser-Busch InBev is committed to implementing any changes in a socially responsible way.
About Anheuser-Busch InBev
Anheuser-Busch InBev is a publicly traded company (Euronext: ABI) based in Leuven, Belgium. It is the leading global brewer and one of the world's top five consumer products companies. A true consumer-centric, sales driven company, Anheuser-Busch InBev manages a portfolio of over 200 brands that includes global flagship brands Budweiser, Stella Artois and Beck's, fast growing multi-country Brands like Leffe and Hoegaarden, and strong "local jewels" such as Bud Light, Skol, Brahma, Quilmes, Michelob, Harbin, Sedrin, Cass, Klinskoye, Sibirskaya Korona, Chernigivske, and Jupiler, among others. In addition, the company owns a 50 percent share in Grupo Modelo, Mexico's leading brewer and owner of the global Corona brand, and a 27 percent share in China brewer Tsingtao, whose namesake beer brand is the country's bestselling premium beer. Anheuser-Busch InBev's dedication to heritage and quality is rooted in brewing traditions that originate from the Den Hoorn brewery in Leuven, Belgium, dating back to 1366 and the pioneering spirit of the Anheuser & Co brewery, established in 1860 in St. Louis, USA. Geographically diversified with a balanced exposure to developed and developing markets, Anheuser-Busch InBev leverages the collective strengths of its 120,000 employees based in operations in over 30 countries across the world. The company strives to be the Best Beer Company in a Better World. On a proforma basis for 2007, the combined company would have generated revenues of 26.4 billion euro. For more information, please visit: http://www.abinbev.com.
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