Letter from Paul Varga, Chief Executive Officer

Paul Varga, Chief Executive Officer

Paul Varga, Chief Executive Officer

The Brown-Forman brand of business is really about the way we run our business and how we interact with each other, our many stakeholders, and the environment in which we operate. We believe it to be truly unique.

Foremost among the characteristics that distinguish our brand of business is our unusually long-term perspective. Unlike many companies, where product life cycles can be measured in a few months or a few years, our strength comes from building enduring brands – brands that have the potential to thrive for 100 years or more, as is the case with Jack Daniel’s and Old Forester. These brands endure because of the way we manage them and because of the consumers who place their trust in them.

In a sense, our long-term perspective actually liberates us in the way we market and sell our brands. For example, we avoid the temptation to excessively discount a brand’s price in a futile search for unsustainable short-term results, preferring to focus instead on patiently forging the lifelong relationships and emotional connections with consumers that are the foundation of brand loyalty, sustainable brand equity, and superior profitability.

Sincerely yours,

PaulVarga_signature

Paul C. Varga
President and Chief Executive Officer