Anheuser-Busch Names New CEO

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Anheuser-Busch Names New CEO

ST. LOUIS - Anheuser-Busch Companies Inc. on Wednesday named Patrick T. Stokes as president and CEO. Stokes succeeds August A. Busch III, who continues as chairman of the board, and becomes the first CEO in 142 years who is neither an Anheuser nor a Busch, according to Brandweek magazine.

The changes, announced at the company's annual shareholders meeting in St. Charles, Mo., are effective July 1, 2002.

"Pat Stokes is the right person to lead this corporation," said Busch III in making the announcement. "He has been a member of senior management for more than 25 years, demonstrating vision, leadership and analytical skills in each assignment. Since 1990 he has led our beer company to record performance. Pat has earned the Board of Directors' respect and confidence."

Stokes, 59, joined Anheuser-Busch in 1969 in the corporate planning department. He became an officer of the company when he was named vice president-raw materials and transportation in 1974. During the 1980s he served as chairman of the Board and president of Campbell-Taggart Inc., a baked goods company that at that time was an Anheuser-Busch subsidiary.

In 1990, he succeeded Busch III as president and later as CEO of Anheuser-Busch Inc., the company's U.S. beer subsidiary, the largest contributor to corporate revenues.

In 1999, Stokes was named Chairman of the Board of Anheuser-Busch International Inc., giving him worldwide responsibility for the corporation's beer business. In 2000, he was promoted to senior executive vice president of Anheuser-Busch Companies Inc. Stokes also was elected to the Anheuser-Busch Companies Inc. Board of Directors that year.

Succeeding Stokes as president of the beer company, Anheuser-Busch Inc., is August A. Busch IV.