AB InBev has announced that Yanjun "YJ" Cheng will take over as CEO of Budweiser Brewing Company APAC starting April 1, 2025. Cheng, currently Global Supply Operations Chief, will succeed Jan Craps, who is stepping down after seven years in the role and 23 years with the company.
The leadership change follows a weak fourth quarter for the ‘Asia Pacific’ division, where sales dropped by 10.9%. Despite this, AB InBev’s overall Q4 revenue rose by 3.4% to USD 14.84 billion, with full-year sales increasing by 2.7% to USD 59.77 billion.
Cheng has been with Bud APAC for 29 years and previously served as Vice President of Supply and Logistics for the region, overseeing China, Korea, India, and Southeast Asia. His experience includes leading the Harbin Group and holding key brewing and logistics positions. AB InBev’s CEO Michel Doukeris praised Cheng’s ability to streamline operations and improve efficiency through technology.
Craps, who was instrumental in expanding Bud APAC’s brand portfolio and leading the IPO of the Asia business, expressed pride in the talent he helped develop, including Cheng. "I’m fully committed to making this transition as smooth as possible," he stated. While the company did not specify a reason for his departure, Craps indicated he was leaving to "pursue other opportunities" after a long tenure at AB InBev. His exit comes at a time when the Asia Pacific division faces challenges, raising speculation about the strategic direction of the business in the region.
