Cincinnati brewery Rhinegeist names Adam Bankovich interim CEO

Rhinegeist has appointed an interim CEO after the departure of Over-theRhine's first external leader.

Rhinegeist Brewery announced on April 28 that Adam Bankovich was appointed interim CEO of the largest craft brewery in the region. Bankovich will join the brewery as chief commercial officer in October 2022.

Bankovich replaces Mike Parks who will join Rhinegeist as the first ever outside CEO in August 2021. Bob Bonder and Bryant Goulding founded the brewery in 2013. Parks' exit was not explained. Rhinegeist's spokeswoman said that Parks is no longer employed by the company.

In a press release, the brewery announced that it would begin a search to find a new CEO while Bankovich guides it through its transition.

Bankovich came to Rhinegeist after serving as vice president of Stone Brewing in San Diego, where he was the head of sales. He was hired by the OTR Brewery to oversee the growth of Rhinegeist and the commercial strategy.

Goulding stated in a press release that Adam has made an immediate positive impact during his tenure as CCO. "We've been impressed by his character, his capacity, and his collaborative management style," he said.

"We have built our brand on quality, creativity and great people. We have been working hard to recommit to our vision and build strategic focus. Adam is confident he can guide us through this exciting change."

Goulding and Bonder who started the process of transferring the ownership of the brewery to its employees through an employee stock purchase plan in 2019 remain involved as vice-president and president of the board, respectively.

Bankovich worked at Stone for nine years, which is the seventh largest craft brewery in America by sales volume. Rhinegeist, which climbed two places from 25th place to 23rd in the Brewers Association's list of the largest craft breweries in the U.S.

Bankovich began his career with Stone in 2013, as the senior national account manager of eastern U.S. He climbed the ranks of the sales organization to become vice president of sales by 2019.

Parks left Baltimore's TNT Crust to join Rhinegeist, a firm that produced pizza crusts twice as large as the OTR Brewery. Parks began his career in the field at Brown Forman Distillery. They are the owners of Jack Daniels and Woodford Reserve, as well as Old Forester.