Patrón has changed a lot since Ed Brown took the brand’s helm in 2001. That year, the tequila company sold 118,000 cases compared to two million cases sold last year. Then, there’s the matter of Bacardi buying Patrón (for $5.1bn) last January. Now, Brown, is calling it quits and stepping down from his role as President and Chief Executive Officer of Patrón Spirits International and The Patrón Spirits Company.
“It is only fitting that we should describe the career of the man who created the enduring tagline, ‘Simply Perfect’ as nothing short of that,” said Barry Kabalkin, Vice Chairman of Bacardi Limited and a member of the board of directors of Patrón since 2008. “On behalf of Bacardi and our newest colleagues from Patrón, I would like to offer Ed our heartfelt thanks for building one of the best brands in the spirits world and beyond. We wish Ed all the best on his well-deserved retirement.”
When announcing the news, Bacardi did not name a successor to Brown. However, press materials implied that Patrón is now full integrated into the Bacardi mothership.
“Ed has been a generous partner as we’ve worked hard to integrate our companies without missing a beat,” said Madhavan. “We continue to be impressed with what he and his outstanding team have accomplished, and we are more excited than ever at the opportunity to build upon their success to grow Patrón, which so perfectly complements our portfolio of premium brands at Bacardi.”
However, a press release did stress that “Brown intends to remain engaged post-retirement, providing counsel and expert advice on the Patrón brand, the tequila category, and the spirits industry as a whole, and his continued involvement at the Patrón board level and otherwise will be invaluable for many years to come.”
And, don’t worry too much about the outgoing exec; Patrón’s explosive growth clearly benefited Brown. Last year, CNBC published a look inside his $48.9mn Florida beach house.