E-Malt.com News article: 2254

USA, Seattle: Pyramid Breweries Inc. announced on February 26 that Martin Kelly is stepping down as Chairman and Chief Executive Officer. The Company has appointed Pyramid founder and director George Hancock as non-executive Chairman and has immediately commenced the process of recruiting a new CEO. Mr. Hancock was formerly Chairman of the Board and served as CEO from 1992 through 1999. "I want to pay tribute to the contribution that Martin Kelly has made to Pyramid Breweries first as President and Chief Operating Officer, and subsequently as Chairman and Chief Executive Officer. During his tenure, Martin has led the growth of the Company through the expansion of the Alehouse Division and the pending acquisition of the Portland Brewing Company," commented Hancock. Until a successor CEO has been named, Mr. Hancock will oversee the Company's day-to-day operations.

Pyramid Breweries Inc. is a leading brewer of specialty, full-flavored beers and sodas, produced under the Pyramid Ales & Lagers and Thomas Kemper brand names. Pyramid operates four breweries in Seattle, Washington, and Berkeley, Sacramento and Walnut Creek, California, as well as four adjoining restaurants under the Pyramid Alehouse name.


27 February, 2004