Boston Beer CFO Frank Smalla to step down, Matthew Murphy named interim CFO

On March 3, Frank Smalla informed the company that he was stepping down after seven years as the company’s Treasurer and CFO, to pursue an opportunity as Chief Financial and Operating Officer with a KKR-backed private equity company. His departure from the company is not related to any disagreement with the company on any matter relating to its operations, policies, or practices. To support an orderly transition, Smalla will remain at the company until mid-April. The company’s Board of Directors has launched a formal search process to identify Smalla’s permanent replacement. On March 6, the company’s Board of Directors approved the appointment of Matthew Murphy to serve as interim Treasurer and CFO until such time as the Company appoints Smalla’s permanent successor. Murphy is currently the Chief Accounting Officer of the company, a position he has held since August 2015. Prior to that position, he was the company’s Corporate Controller from September 2006 to August 2015. There is no arrangement or understanding with any person pursuant to which Murphy is being elected as interim Treasurer and CFO. There are no family relationships between Murphy and any director or executive officer of the company, and he is not a party to any transaction requiring disclosure under Item 404(a) of Regulation S-K.