Budweiser APAC announces CEO transition; Cheng appointed

Budweiser Brewing Company APAC (HKEX: 1876) has announced a leadership transition, with Yanjun Cheng appointed as the new Chief Executive Officer, Co-Chair, Executive Director, and Authorized Representative, effective April 1, 2025. Cheng succeeds Jan Craps, who has ceased to hold these positions by mutual agreement. Cheng, aged 65, brings over 40 years of experience in the beer and beverage industry, including 29 years with AB InBev. He previously served as AB InBev's Global Supply Operations Chief and CEO Asia Pacific Zone. As of the announcement date, Cheng holds interests in 979,337 company shares, underlying shares that may be delivered upon exercise of 1,475,538 share options, the vesting of 2,416,233 restricted stock units of the company and 357,399 locked-up shares of the Company, and 178,103 shares of AB InBev (an associated corporation).