New Belgium CEO to Step Down After Overseeing Historic Growth

Steve Fechheimer, who oversaw acquisition of Bell's Brewery and the sale of New Belgium by its workers to Lion Group, will step down in August to pursue new opportunities, the company said.

“It’s been an honor to lead New Belgium for the past six  years,” said Fechheimer. “This is a truly special company, co-founded by Kim Jordan, a social worker, who asked me to help stabilize the business and pursue a new era of growth – all while never wavering in our core belief that
business works best when it works for the people who power it. I’m immensely proud of our team, and I’m excited for New Belgium’s next chapter built on the solid foundation we’ve established so far."

During his tenure, Fechheimer steered New Belgium through a series of major milestones, including:
• The sale of the company by its coworkers, who formerly owned 100% of shares, to Lion Group in 2019 – paving the way for further growth and investments;
• Joining forces with Bell’s Brewery in 2021, a move that made New Belgium North America’s largest craft beer platform with an unrivaled portfolio including Voodoo Ranger and Fat Tire Ale, coupled with Two Hearted IPA and Oberon Ale, along with popular and
innovative brands like Dominga Mimosa Sour,  Hopslam, and La Folie Sour Brown Ale, and an award-winning wood-aged sour program;
• The unrivaled growth of Voodoo Ranger, America’s #1 IPA brand, which has been a rare brand capable of expanding the craft beer community and inviting new drinkers into the category at a time when the craft beer industry has largely struggled.
• The emergence of Fat Tire Ale as America’s first certified carbon neutral beer, the establishment of industry-leading climate goals, and a bold relaunch of New Belgium’s  flagship with a new Fat Tire recipe and brand built to engage the next generation of craft beer fans in a movement to protect the only planet with beer;
• The 2023 acquisition of a state-of-the-art, 259,000 square foot production brewery
in Daleville, Va., from Constellation Brands – a deal that will expand New Belgium’s existing production capacity to meet current demand and continue to grow beyond the craft category with potential future FMB, seltzer, and RTD innovations;
• The consistent strengthening of Human-Powered Business practices throughout the business, including strong and consistent action and advocacy for social and
environmental change; a new governance structure to enshrine Human-Powered Business practices deep into the company’s operations; and the continued recognition of New Belgium’s ESG leadership by independent organizations like the Human Rights Campaign and B Lab, which certifies New Belgium as a leading B Corporation globally.

“Steve leaves an incredible legacy, delivering strong growth while staying true to New Belgium’s
Human-Powered Business model,” said Lion Group CEO Sam Fischer. “One of the hallmarks of
a great leader is the strength of the team they build around them. Steve has grown an exceptional leadership team who I know will keep driving this business forward with purpose and heart to achieve great things for New Belgium’s coworkers, communities, and customers."

Fischer added the U,S, is a priority market for Lion, which is committed to New Belgium’s Human-Powered Business model and continuing to foster the very special culture that underpins it.”

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