Lawson Whiting, the CEO of Brown-Forman who led the Jack Daniel’s maker for nearly seven years, is retiring. He will stay in the role until a successor is named, then remain with the company in an advisory capacity for a transitional period.
Whiting joined Brown-Forman in 1997 and became CEO in 2019. The company credited him with steering through a difficult macro environment, including the COVID-19 pandemic, tariff pressure, and shifting alcohol consumption habits. His departure comes at a tricky time for the spirits industry.
Changing consumer habits and a failed sale attempt
Brown-Forman is facing headwinds as more consumers move toward nonalcoholic drinks or premixed offerings. The company considered a potential sale to Pernod Ricard earlier this year, but that deal fell through. To adapt, it has expanded its ready-to-drink portfolio, a category that has proven more lucrative than traditional spirits.
In its last fiscal year, overall net sales fell 1% to $3.9 billion. Sales within the whiskey portfolio increased 3%, and RTDs surged 11%. But its tequila portfolio dropped 4%, a sign of uneven performance across the firm’s brands.
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That kind of mixed results makes a CEO transition a delicate moment. The company is not in crisis, but it is not exactly booming either. Whiting’s leadership saw Jack Daniel’s pushed deeper into international markets and Old Forester volumes tripled, according to Chairman Marshall Farrer. The broader category slowdown means the next chief executive will inherit a market that looks different than the one Whiting took over in 2019.
TD Cowen analysts wrote that a new CEO may not make big changes, noting the company appears focused on continuity rather than a bold turnaround. “We believe investors may view the succession process as an opportunity for Brown-Forman to pursue a meaningful strategic reset aimed at improving growth, execution, and shareholder returns,” they said. “The Board’s messaging around succession emphasized continuity, brand building, and long-term value creation rather than strategic alternatives.”
Brown-Forman’s corporate governance and nominating committee has started searching for a new CEO. Farrer said the company will conduct “a robust review of both internal and external talent.” Whiting struck a confident note in his statement: “We are entering this transition from a position of strength. I have every confidence that the succession process will surface the right leader for Brown-Forman’s next generation of growth, and I look forward to supporting a seamless handoff that ensures our momentum never wavers.”