Boston Beer taps Peet's Coffee CEO as its new head

Peets Coffee president and CEO Dave Burwick.
Jorge Ribas | The Washington Post | Getty Images
Peets Coffee president and CEO Dave Burwick.

The Boston Beer Company said Wednesday that it has picked the head of Peet's Coffee as its newest CEO.

The maker of Sam Adams said that Dave Burwick would succeed Martin Roper as president and CEO. The company said that Burwick would start the job by June.

Jim Koch will continue in his role as company founder and chairman.

Burwick is no stranger to Boston Beer; he has served on the company's board of directors since 2005.

In late 2012, Burwick was named president and CEO of Peet's Coffee, which is owned by JAB Holding, the privately held German conglomerate that also owns Panera, Krispy Kreme and Keurig.

Prior to joining Peet's, Burwick served as president of North America for Weight Watchers.

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"The search committee unanimously agreed that Dave Burwick has the business experience and skills to lead the company forward and will be a great culture fit, appreciating how unique and special Boston Beer is as an organization," said Koch in a statement. "We took our time to find the right person with the right intangibles – character, insights, personality and leadership skills."

Burwick's appointment follows Roper's announcement last year that he planned to step down in 2018 after leading the company for more than 17 years "to explore other opportunities."

Boston Beer, which has a market cap of $2.26 billion, reported third quarter 2017 net revenue of $247 million, a decrease of $6.4 million or 3 percent from the same period the year before. The company brews more than 60 styles of Samuel Adams beer and has other brands including Angry Orchard Hard Cider, Twisted Tea, Truly Spiked & Sparkling.