Brown-Forman Chief Executive Lawson Whiting plans to step down after leading the Jack Daniel's maker since 2019. The Louisville-based spirits giant announced Whiting will remain until a successor is appointed, with the board launching a search for internal and external candidates.

The transition comes as Brown-Forman and other spirits producers face years of declining alcohol consumption that has eroded sales across spirits, wine, and beer. Beyond its flagship Jack Daniel's whiskey, the company's portfolio includes Herradura tequila, Woodford Reserve, and historic bourbon brand Old Forester.

Brown-Forman also explored strategic combinations, including discussions earlier this year with Paris-based Absolut vodka producer Pernod Ricard. Those talks ended in April after the companies failed to agree on terms, leaving the company to navigate its next chapter under new leadership.