Brown-Forman Chief Lawson Whiting to Retire

Lawson Whiting, President and CEO of Brown-Forman, parent company to Woodford Reserve, will retire once a successor is named.

The board has opened a search for his replacement, weighing both internal and external candidates. Whiting has agreed to stay on in an advisory role to smooth the transition.

The leadership change comes as the company navigates a shifting market for American whiskey. Industry observers will be watching closely for the board's eventual choice.