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(BUD) - Get Anheuser-Busch InBev SA/NV Sponsored ADR Report

named August Busch IV CEO, replacing Patrick Stokes.

The St. Louis-based brewer said Stokes will become chairman, replacing August Busch III. Both moves take effect Dec. 1.

"The board of directors diligently executes its charge to evaluate and determine the executives to lead Anheuser-Busch as part of its succession planning responsibilities," said lead director Edward E. Whitacre, who is

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CEO. "After careful consideration, we selected August Busch IV as the individual most qualified to assume that role. We believe that the company, its employees and its shareholders will be well-served by his leadership."

Stokes, 64, had been president and CEO since July 2002.

Busch IV, 42, is the fifth generation of Busch family members to lead the company. His great-great grandfather was Adolphus Busch, who co-founded the company. Adolphus Busch married Lilly, the daughter of Eberhard Anheuser, who had purchased the brewery in 1860.

The company said John E. Jacob will retire as executive vice president-global communications.