Mast-Jägermeister US has named its chief operating officer Joe Fortune as CEO, effective April 1, the company announced Thursday. Fortune assumes the role from outgoing CEO Jeff Popkin, who has held the role since 2015.
Fortune joined Mast-Jägermeister in 2016 as its chief financial officer, before transitioning to COO in 2019. Prior to that, he served as VP of finance for wine and spirits importer Disaronno International and previously held finance positions at Diageo.
“I am honored to assume the role as CEO of what I believe to be the boldest brand in the business,” Fortune said in a press release. “Jeff is an exceptional leader, and it is a privilege to follow in his footsteps. Mast-Jägermeister US is driven by our positive brand-led culture, masterful execution and authentic family-owned history. I am energized by the endless opportunities that lie ahead.”
As CEO, Popkin oversaw a number of strategic brand shifts and major partnerships that helped the spirits producer drive significant U.S. growth. Prior to joining the company, Popkin served as president of Vita Coco, but came into his current role following the acquisition of Sidney Frank Importing Company by Mast-Jägermeister’s German parent company. Popkin helped guide the transition and worked to rebuild the team and craft a more inclusive corporate culture, the company said.
Popkin also helped secure a number of significant deals for Mast-Jägermeister US, including a distribution partnership in 2018 with Southern Glazer’s Wine & Spirits, a multi-year sponsorship with the NHL that was extended in 2019, and a partnership with Dwayne “The Rock” Johnson to launch Teremana Tequila as its exclusive distributor in March 2020. According to the company, Teremana sold over 300,000 cases in its first year on the market and over 640,000 in 2021, establishing the brand as one of the fastest growing new spirits on the market.
Earlier this month, Mast-Jägermeister became an investor in Teremana. Terms of the deal were not disclosed, though, per a press release, Mast-Jägermeister will bring “additional global sales, marketing and logistics expertise as well as organizational structure to support the brand’s continued success and growth.”
“Following an outstanding year for Jägermeister, and our new strategic role in Teremana Tequila, this is an optimal time to transition to a new CEO,” Popkin said in the release. “I am fortunate to have worked side by side with the most talented, committed and fun-loving team, and I could not be prouder of what we have built and achieved together.”
“We are forever grateful for Jeff’s unwavering commitment to Jägermeister in the US and globally,” said Michael Volke, global CEO of Mast-Jägermeister SE, in the release. “Jeff’s business accomplishments and assemblance of a stellar team has been integral in the new positioning of the brand and established our solid foundation for continued success. We are fortunate to have extraordinary talent at Mast-Jägermeister US, and therefore thrilled to promote Joe into this key global leadership position from within. Joe’s remarkable performance as Chief Commercial Officer, proven ability to deliver strong results, deep understanding of the spirits industry, and appreciation of the unique Jägermeister relationship with our consumers and customers, made him the ideal US CEO successor.”
The announcement comes shortly after Mast-Jägermeister SE announced the appointment of Tobias Witte as director of its Global Travel Retail division, taking over the role from retired director Dietmar Franke. Witte, who has been with the company for over nine years, most recently served as the managing director of the Gin Sul brand.