Boston Beer Company's shares fell 4% on Friday after Chief Financial Officer Diego Reynoso announced plans to depart the company on September 14 to pursue a new opportunity.
Reynoso, who has served as CFO for three years, led the brewer's financial operations and productivity initiatives during his tenure. His departure follows a period of disciplined financial management under his leadership, according to company statements.
Matt Murphy, currently Chief Accounting Officer, will assume the roles of Interim Chief Financial Officer and Treasurer effective September 15. Murphy joined Boston Beer in 2006 as Corporate Controller and was promoted to Chief Accounting Officer in 2015. He previously served as Interim CFO in 2023 prior to Reynoso's appointment.
The company has initiated a search for a permanent CFO, evaluating both internal and external candidates. Founder, Chairman and CEO Jim Koch highlighted Reynoso's contributions, noting the outgoing CFO leaves the company with a strong financial foundation.
