David Aisenstat is stepping down as CEO and vice-chair of The Keg Inc. CEO, effective March 31, 2019.
“We appreciate the contributions he’s made to the company over the past four years,” said Terry Allen, chairman of The Keg. “He has shown integrity, focus and unwavering leadership. We are confident we’ve made the right decision to transition the company to Tom and Cathy.”
He was joined by several other executives on The Keg’s senior management team, as well as by the company’s new president, Alex Brown, at the event held Friday, November 2 at The Keg’s headquarters in Washington, D.C.
“Tom and Cathy took over a company that was facing a challenge with growth and challenges on the level of a recession,” Allen said. “Our business is humming right now and I think you see David and his team stepping back and allowing us to do that.”
Brown said Aisenstat’s 17 years at The Keg had been a “privilege,” as they had grown the business to the $200 million in revenue it is today, and as he will continue to do.
“He did an incredible job,” Brown said. “The business is in phenomenal shape. We’re on a growth trajectory. And, I’m just in awe of his ability to do a great job for the company.”
“David brought a level of professionalism to the company that I didn’t think I’d see,” Allen said. “Everyone’s voice is a valued voice, and the fact that everybody had a voice and understood exactly what’s required, and they stepped up and made those decisions and they made it happen, is a testament to the character of David Aisenstat.”
Aisenstat came on to The Keg from Recipe Unlimited Corp., where he had served as CEO, and last May was named The Keg’s vice-chair. He was the first director on the company’s board.
“We’re big believers in succession planning,” Allen said. “It was the right thing to do, in our opinion, to find his successor and accelerate his retirement, which I think is going to be more than wonderful for the company, and we’re sure he’ll be pleased.”
“We’re appreciative of all the work David’s done,” said Brown. “We appreciate his service, his expertise, and his experience. We look forward to working with him. I’m sure he’ll be a great ambassador for the company, as he’s been for us.”
Smithburg-based Recipe Unlimited Corp. is the largest private producer of beverage products in North America. The company sells ingredients, recipes and equipment used in the preparation of such beverages as Red Bull, Vitaminwater, Pepsi, and Monster energy drinks.
Aisenstat’s other recent employment includes PepsiCo, where he worked from 2006 to 2008 as Director of Food Category Optimization for Quaker Foods North America. Before that, he worked at several major food manufacturers.
“We’re very excited to have achieved many milestones in the last few years in an environment that certainly has had its challenges,” Brown said. “That’s a testament to the leadership here.”
Aisenstat called The Keg “the most challenging environment I’ve ever worked in. I love people, I love the work that I do, and I think our team here is phenomenal.”