The demotion of August A Busch IV from the executive committee of beer giant Anheuser-Busch has been confirmed with the promotion of David Peacock at the newly-formed Anheuser-Busch InBev behemoth.
Peacock, who served as vice president of marketing under Busch IV, becomes the new president and will manage all US operations for the combined company, which is awaiting the approval of Anheuser-Busch shareholders on 12 November.
InBev shareholders rubber-stamped the takeover and a seat on the board for Busch IV last week, signaling the establishment of the world's largest beer manufacturer and the end of an era for the Busch family.
Busch IV became the fifth member of his family to run the business, which was founded in 1852, when he was appointed president and CEO in December 2006.
However, a lack of family unity led to the downfall of the business as a family company. While Busch IV said he was firmly against any takeover earlier this year, his uncle Adolphus Busch IV was a public supporter of the InBev deal.
InBev were able to force the issue and the takeover was confirmed in July, valuing the business at $52 billion.