Boston Beer Co. SAM, -0.08% said late Tuesday that Chief Financial Officer Frank H. Smalla is stepping down after seven years. Smalla will become CFO of an unnamed private-equity company backed by KKR & Co. Inc. KKR, -2.15%, Boston Beer said. “His departure from the Company is not related to any disagreement with the Company on any matter relating to its operations, policies, or practices,” Boston Beer said. Smalla will remain at the company until mid-April to ensure a smooth transition. Boston Beer’s board has launched a search process to identify its next CFO, and appointed Chief Accounting Officer Matthew D. Murphy as interim CFO. Boston Beer shares were flat in the extended session Tuesday after ending the regular trading day down 0.1%. Boston Beer last month swung to an unexpected quarterly loss, pinning it on its production mix and “supply-chain inefficiencies.”
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