The board of Belron Group has announced the appointment of Carlos Brito as its new CEO. Brito will join the company in January and take over as CEO in March 2023, following a handover period. He will replace Gary Lubner, who has led the company for two decades.
According to the announcement, Brito is one of the world’s top business leaders. He has vast experience, including running AB InBev, a global business of more than 164,000 people and an outstanding track record of creating value for shareholders and developing leaders. He built AB InBev from a Latin American regional player into one of the world’s major brewing companies, with brands including Budweiser, Corona and Stella Artois.
“I’m delighted to hand over the stewardship of this exceptional company to Brito. He is the right CEO to take Belron forward, bringing an unrivaled track record of growing businesses and operating at the highest level,” says Lubner. “It is a testament to our business, brands, people and investors that we have attracted one of the world’s most successful chief executives to lead Belron into the next phase of its development.”
Lubner continues, “His deep interest in every aspect of our business is striking, and I know that our values-led culture is a priority for him as he seeks to grow the business. On behalf of my 30,000 colleagues around the world, I would like to offer him a warm welcome to the company.”
Lubner will remain on the Belron Board of Directors following the changeover.
Brito adds, “Belron is a unique business with a clear pathway to sustainable and responsible growth at an important stage in its development. This is exactly the opportunity I have been looking for and I very much look forward to getting to know the business better and to meeting my new colleagues.”
Nicolas D’Ieteren, chairperson of Belron’s majority shareholder the D’Ieteren Group and the Belron Group Board, says, “I am very happy to welcome Carlos Brito to Belron. He is one of the foremost business leaders of his generation and his appointment reflects the amazing job Gary Lubner and his team have done to develop Belron over the past 22 years. His arrival demonstrates the energy and the excitement we all feel about the opportunities that lie ahead for the group’s future. We are confident that Carlos Brito is the right leader at the right time to continue building on our tremendous success and write the next Belron chapter.”
He continues, “I would like to thank Gary personally and on behalf of the board of directors for his huge contribution to the successful development of the company as its CEO for more than 22 years. We are also delighted to keep Gary as a Belron board member, and we are looking forward to benefit from his enormous experience about the business. Dear Gary, as we say in French – Bravo et Merci -.”
During Lubner’s 22 years as CEO, Belron sales have grown consistently from approximately $853 million in 2000 to more than $4.7 billion in 2021 through geographic expansion into new territories, growing market share and value accretive acquisitions. The business was most recently valued at approximately $21.8 billion in a transaction in 2021. Lubner has also overseen investment in new technology and innovation, leveraging the increasing complexity of vehicles and driver assistance systems, positioning the group for further growth.