CEO of Jack Daniel’s Owner Retires Months After $15 Billion Takeover Bid Collapsed

(Photo: Jack Daniel’s)

On Monday, the President and CEO of American spirits giant Brown-Forman announced that he is retiring from the company, effective upon the appointment of a successor.

Lawson Whiting led the Kentucky mainstay through seven and a half years of rapid transformation, overseeing Brown-Forman as its flagship brand, Jack Daniel’s, successfully swung from budget-friendly fare to high-end single barrel whiskeys treasured among collectors. But Whiting leaves amid a period of deep uncertainty, as rival firms have attempted to maneuver multi-billion-dollar acquisition deals of the prolific but ailing company.

In addition to Jack Daniel’s, Brown-Forman is responsible for Old Forester and Woodford Reserve whiskey, Herradura and El Jimador tequila, Fords Gin and The GlenDronach scotch. Whiting will remain at the company in an advisory capacity until a new CEO is found. Brown-Forman’s Board of Directors is reportedly considering both internal and external candidates, though it has not given an expected timeframe for the appointment of a successor.

“It has been the privilege of a lifetime to lead Brown-Forman,” Whiting remarked in a public statement. “We are entering this transition from a position of strength. Brown-Forman has principled leadership, a foundation of iconic brands, and a global team with immense depth and talent.  I have every confidence that the succession process will surface the right leader for Brown-Forman’s next generation of growth, and I look forward to supporting a seamless handoff that ensures our momentum never wavers.”

Like most else in the alcohol industry, Brown-Forman has sailed through turbulent waters over the past few years. The company’s stock price peaked at over $81 in 2020, and now sits at a nearly decade-and-a-half low of $25. As its stock price has fallen, so too has the scale of Brown-Forman’s operations. The company announced that it was laying off 12% of its global workforce in early 2025, and recently halted production of Slane Irish Whiskey for the foreseeable future.

In an earnings call with investors, Whiting blamed the downturn on the so-called “same big three” — weight loss drugs, cannabis use and declining alcohol consumption among Gen Z consumers. Others have speculated that the company’s overreliance on a single brand might be causing problems in an era where whiskey is ceding popularity to ready-to-drink alternatives.

Brown-Forman’s woes have not gone unnoticed by its competition. In March, the company confirmed that it was in talks with Pernod Ricard for a “potential business combination” that would have created one of the largest alcohol conglomerates in history. Days later, Buffalo Trace owner Sazerac entered the fray with a $15 billion, cash-in-hand offer to acquire the firm.

Both deals fell apart behind the scenes for reasons that are still largely unknown to the public. Anonymous sources have suggested that family control remains a top priority for the Brown family, which holds about 80% of the company’s voting power.