Grupo Modelo CEO resigns from A-B board
By The Associated PressSunday, June 22, 2008ST. LOUIS - The head of Mexican beer company Grupo Modelo is stepping down from the board of Anheuser-Busch Cos. Inc. as the remaining directors of the iconic American brewer of Budweiser are considering a $46 billion takeover offer from Belgian brewer InBev.
The resignation of Carlos Fernandez, president and chief executive of Grupo Modelo SAB, was announced Friday — the same day that news reports say the Anheuser-Busch board was to meet in St. Louis to consider InBev’s $65 a share offer for the nation’s largest brewer. Spokeswomen for both Anheuser-Busch and InBev declined comment on those reports.
Anheuser-Busch shares slipped 38 cents to $60.67 Friday. The stock price has risen sharply since rumors of InBev’s interest began earlier this spring.
St. Louis-based Anheuser-Busch did not say why Fernandez resigned. His departure leaves the board with 13 members.
