Lawson E. Whiting’s Post

It’s been a busy month of conferences in the investor community. Following the Barclays event with Leanne, I spoke last week at TD Cowen's 2nd Annual Sip, Snack & Scrub Summit. Our strategy, our brands, and our geographic reach give me confidence in the future for Brown-Forman as we continue to deliver results and aspire to #NothingBetterInTheMarket. You can listen to my appearance on the Sip, Snack & Scrub Summit here: https://lnkd.in/dg5P9u8Q

During yesterday’s Annual Meeting of Stockholders, W. Austin Musselman Jr., a fifth-generation descendant of Brown-Forman founder, George Garvin Brown, was elected to the Brown-Forman Board of Directors. With much excitement, I want to welcome Austin to the Board and express my gratitude to Stuart Brown, who did not stand for re-election after nine years of service to the Board. As family shareholders, both Stuart and Austin understand our deep commitment to delivering #NothingBetterInTheMarket. In the full press release below, you can learn more about Austin’s professional background, including his time on the Brown-Forman Foundation and the Brown-Forman/Brown Family Shareholders Committee, along with the other matters of business approved at yesterday’s Annual Meeting of Stockholders.

In 1996, Brown-Forman introduced the world to Woodford Reserve. Today, the brand is the #1 super-premium American whiskey brand in the world by volume and value, based on IWSR 2023. It was my honor to participate in the dedication of The Pepper House at Woodford Reserve last week. This restored building will be home to the brand’s Personal Selection barrel program and includes a library named in honor of Master Distiller Emeritus Chris Morris. Chris is a member of the Kentucky Bourbon Hall of Fame and has devoted five decades to Brown-Forman, including 20 years serving as Master Distiller for Woodford Reserve. On behalf of Brown-Forman and the 154-year legacy that is our company, we are deeply grateful to Chris for his leadership and brand stewardship. After all, there is #NothingBetterInTheMarket.

Last week, Brown-Forman had the pleasure to host the investment community at our Kentucky headquarters and homeplaces for our 2024 Investor Day. The event showcased the people, products, and places that will grow Brown-Forman for the next generation and support our Make It A Double 2032 ambition. We believe we can achieve this by thinking bigger, being bolder, and delivering better.

We believe great people build great brands. And we know there is #NothingBetterInTheMarket than a career at Brown-Forman. Congratulations to our countries across Europe, who joined so many of our locations around the world in being recognized as a #GreatPlacetoWork. Thank you for cultivating a culture where integrity, respect, trust, teamwork, and excellence can thrive.

For two consecutive years, a Brown-Forman brand has been awarded Whisky of the Year by Whisky Advocate. In 2022, it was Jack Daniel’s Bonded, and this year, Glenglassaugh Sandend. Jack Daniel’s Bonded and Glenglassaugh Sandend are perfect representations of the impressive whisk(e)y making happening across Brown-Forman – and both bring new life into long-treasured brands.  Thank you to our team of whisk(e)y makers from Scotland to Lynchburg and everywhere in between. You have reminded us again why there is #NothingBetterInTheMarket.

This holiday season, whether you're watching Thanksgiving Day football, Christmas Day basketball, or something in between, you're likely to see the new ad from Brown-Forman for Jack Daniel's Tennessee Whiskey. As part of the extensive media investment, we've created a new U.S. advertising and media campaign that will leave no doubt – Jack is Back in Black. This iconic film will serve as Jack’s declaration to a whole new generation of music lovers…and whiskey drinkers…who know exactly what it means to embrace a moment and #MakeItCount.    Thank you to Jennifer Powell, Biba Konieczna - Sano, Sophia Angelis, Neil Punwani, Mary Beth O'Mara, Jamie Butler, Arthur Masterson, Valerie P. Morse, Brett Jeffreys, the entire U.S. Jack Daniel’s team, and our partners at Energy BBDO and Spark Foundry for creating work that illustrates our ambition of #NothingBetterInTheMarket.

The bourbon category continues to grow around the world. This #BourbonHeritageMonth, I invite you to raise a toast to the official state spirit of Kentucky with a glass of Woodford Reserve, Old Forester, or Coopers’ Craft. There is #NothingBetterInTheMarket than the premium and super-premium bourbons of Brown-Forman.

Yesterday, Elizabeth “Eliza” M. Brown, a fifth-generation descendant of Brown-Forman founder George Garvin Brown, was named to the Brown-Forman Board of Directors. With immense gratitude, I want to welcome Eliza to the Board and acknowledge Augusta Brown Holland and John Cook, who did not stand for re-election after a combined 23 years of service to the Board. Eliza, Augusta, and John – through their current and past service — join a long legacy of talented Board members who have helped ensure Brown-Forman continues to deliver #NothingBetterInTheMarket for generations to come. To learn more about Eliza’s professional background and the other matters of business approved this week at our Annual Meeting of Stockholders, please read the full press release in the Brown-Forman post below.

Bigger. Bolder. Better. That was the theme of last week’s Brown-Forman virtual global conference. Our first “hybrid” conference, it featured live studio audiences in both Louisville and London and virtual content from our teams around the world. Thank you to the many employees who brought this production to life…especially those who stayed up extra late for our second session so that employees from São Paolo to Singapore could attend at a time convenient for their time zone! I’m energized by the opportunity to celebrate our accomplishments in Fiscal 2023 and build excitement for all that’s to come in Fiscal 2024 and beyond. Cheers to #NothingBetterInTheMarket!