Stone Brewing Co. CEO, Greg Koch will resign
BE Stone Brewing Co

The San Diego-based brewery, Stone Brewing Co, announced this past week that Greg Koch will take a new role in the company. The brewery’s co-founder will resign as CEO and will take a new role as Executive Chairman.

Koch explains the movement: “This is a natural progression once companies reach our size and complexity. I see this as an opportunity to focus on future direction and projects for Stone Brewing. Most importantly, we are looking for someone who can contribute to our executive team and understands our vision for craft beer.”

According to the company’s official announcement, "Koch will continue working closely to complete the development of Stone Brewing Berlin and oversee the company’s expansion into Richmond, VA."

Since some craft beer enthusiasts could create some speculation that the company could be positioning itself for sale, Koch explained to the website Fortune: “This move signals nothing in that regard,” he says. “Stone Brewing will never sell out. Stone Brewing is sacrosanct. We’re not interested in participating in a cash grab. There are two ways of operating a business – commodity or artisan. We operate as an artisan. We make decisions based on our passions. … Anybody that thinks commodity can operate as an artesian is ignoring the basic facts about how businesses operate.”

Koch started the company with his partner and original brewmaster Steve Wagner in 1996. Since the beginning, Stone has become one of the fastest-growing breweries in the U.S. Today the beer company is the ninth largest craft brewery in the United States, employs more than 1.100 employees and operates two breweries. Stone plans to sell more than 300.000 beer barrels in 2015, with annual revenues of more than US$137 million.

Now the company is searching for a new CEO to replace the co-founder. The company explains that "the incoming CEO is expected to lead day-to-day operations and initiatives…There is no set timeframe or expected hire date for an incoming CEO. The priority is to find an individual with the necessary skill-set, passion for Stone and all things craft beer, and one who can support the efforts to provide high-quality craft beer worldwide."

Take a look at this video that the company released:

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