Brown-Forman Names New CEO

Brown-Forman Corp. has named Paul Varga CEO effective Aug. 1.

Paul Varga

Varga replaces Owsley Brown II, who stays on as chairman. Brown had been CEO since 1993 and is the great grandson of the company founder, George Garvin Brown.

Varga, 41, has been CEO of the company's beverage operation, its largest, since 2003 and will be the third CEO to come from beyond the Brown family, the company said. Varga joined the company 18 years ago while working on his MBA at Purdue University.

In addition to alcohol brands such as Southern Comfort and Jack Daniels, Brown-Forman's brands include Lenox, Dansk and Gorham.