New European Organization to Create More Efficient, Market-Focused Team
Hunter Named CEO of Europe; Glendinning CEO of Canada as Perkins
Announces Retirement
White Elevated to Chief Supply Chain Officer; Wade Retires
DENVER & MONTREAL--(BUSINESS WIRE)--Oct. 1, 2012--
Global brewer Molson Coors today announced the formation of a new
business segment, Molson Coors Europe, by combining its existing
businesses in the UK and Ireland with its recently-acquired business in
nine Central European countries, effective January 1, 2013.
Headquartered in Prague, Molson Coors Europe will comprise approximately
23.6 million hectoliters of volume and $2.3 billion of net sales revenue
on a pro forma US GAAP basis for 2011. These figures represent
approximately 38% of Molson Coors Brewing Company’s 2011 pro forma
worldwide beer volume and 30% of global net sales revenue.
“This move makes us a stronger competitor,” said Peter Swinburn, CEO,
Molson Coors. “It allows us to use our go-to-market resources more
effectively in the region and promotes better sharing of commercial best
practice and marketing expertise. With a larger European footprint,
we’ll be able to negotiate better terms with suppliers, improve
processes and integrate systems to increase efficiencies.”
Mark Hunter, currently CEO, Molson Coors Central Europe, has been named
CEO of the new business. Prior to his current assignment, Hunter served
as CEO, UK and Ireland and as Chief Commercial Officer for Molson Coors
Canada. He has also served on the board of Bass Brewers as Marketing
Director and on the board of Coors Brewers Ltd.
“Mark has gained deep insight into the Central Europe business and he
brings extensive first-hand experience with the UK and Ireland to his
new, expanded role,” noted Swinburn.
Stewart Glendinning, now CEO, UK and Ireland, will become CEO, Molson
Coors Canada upon the retirement of current CEO Dave Perkins at the end
of January, 2013. Prior to taking the helm in the UK, Glendinning was
Global Chief Financial Officer. Before joining Molson Coors in 2005, he
worked with KPMG and then The Hackett Group, both professional services
companies where he held senior roles.
“Thanks to his years in the North American beer business, and as a
member of the MillerCoors board of directors, Stewart brings the right
combination of brand-building expertise and senior leadership experience
to head-up our highly-successful Canadian team,” according to Swinburn.
Dave Perkins, CEO, Molson Coors Canada, has announced plans to retire
after more than 30 years in the beer business. Prior to his current
position, Perkins served as President, Global Brands and Market
Development where he was responsible for the growth and expansion of the
company’s business and brand portfolio in global markets. In this role,
he led business operations in Asia, Europe, Mexico and the Caribbean.
Before the merger with Adolph Coors Company, he served as Chief Market
Development Officer for Molson Canada, and previously held the dual role
of President of Molson USA and President of Market Development for
Molson, Inc. in North America.
“It is fitting that Dave retires from the top job in Canada after
spending so many successful years building the Molson brands as well as
the lasting relationship between the Molson and Coors companies,” said
Swinburn. “Dave’s achievements are too numerous to count—he’s a true
beer champion and an outstanding business leader.”
In other leadership news, Celso White has been promoted to Global Chief
Supply Chain Officer, following an announcement by Greg Wade to retire
from this position at the end of 2012. White joined Molson Coors in
September 2010 as Chief Supply Chain Officer for the international
business, where he played a key role in the company’s emerging market
growth strategy, leading expansions into China, India, Ukraine and
Spain. Prior to Molson Coors, White spent five years as vice president
and general manager with PepsiCo, Inc.’s Americas Concentrate Operations
where he led all aspects of operations and supply chain for PepsiCo
Concentrate throughout the Americas. White also brings R&D and process
engineering experience from Campbell Soup Company and M&M/Mars, Inc.
“Celso is a dynamic leader with strong strategic, technical and
leadership skills,” remarked Swinburn. “He brings a wealth of experience
and a strong track record of performance in global markets that will
help drive our growth strategy for many years to come.”
During his 12 years with Molson and Molson Coors, Greg Wade served in a
number of senior positions including R&D, quality and operations, and he
most recently led the global supply chain function as a member of the
Executive Leadership Team. Prior to Molson Coors, Greg spent more than
20 years at Campbell Soup Company in leadership roles in R&D, quality
and product development.
“Greg has been an invaluable member of the Molson Coors leadership team.
His vast knowledge of both the operational and commercial side of our
business helped deliver unprecedented levels of innovation and
aggressive savings during his tenure,” noted Swinburn. “If you ask Greg
to do something, consider it done, and brilliantly executed.”
Overview of Molson Coors
Molson Coors Brewing Company is one of the world’s largest brewers. The
Company’s operating segments include Canada, the United States, Central
Europe, the United Kingdom, and Molson Coors International (MCI). The
Company has a diverse portfolio of owned and partner brands, including
signature brands Coors Light, Molson Canadian, Staropramen and Carling.
Molson Coors is listed on the 2011 Dow Jones Sustainability Index
(DJSI), the most recognized global benchmark of sustainability among
global corporations. For more information on Molson Coors Brewing
Company, visit the company’s web site, www.molsoncoors.com.
Forward-Looking Statements
This press release includes estimates or projections that constitute
“forward-looking statements” within the meaning of the U.S. federal
securities laws. Generally, the words “believe,” expect,” intend,”
anticipate,” “project,” “will,” and similar expressions identify
forward-looking statements, which generally are not historic in nature.
Although the Company believes that the assumptions upon which its
forward-looking statements are based are reasonable, it can give no
assurance that these assumptions will prove to be correct. Important
factors that could cause actual results to differ materially from the
Company’s historical experience, and present projections and
expectations are disclosed in the Company’s filings with the Securities
and Exchange Commission (“SEC”). These factors include, among others,
our ability to successfully integrate StarBev, retain key employees and
achieve planned cost synergies; pension plan costs; availability or
increase in the cost of packaging materials; our ability to maintain
manufacturer/distribution agreements; impact of competitive pricing and
product pressures; our ability to implement our strategic initiatives,
including executing and realizing cost savings; changes in legal and
regulatory requirements, including the regulation of distribution
systems; increase in the cost of commodities used in the business; our
ability to maintain brand image, reputation and product quality; our
ability to maintain good labor relations; changes in our supply chain
system; additional impairment charges; the impact of climate change and
the availability and quality of water; the ability of MillerCoors to
integrate operations and technologies; lack of full-control over the
operations of MillerCoors; the ability of MillerCoors to maintain good
relationships with its distributors; and other risks discussed in our
filings with the SEC, including our Annual Report on Form 10-K for the
year-ended December 31, 2011, which are available from the SEC. All
forward-looking statements in this press release are expressly qualified
by such cautionary statements and by reference to the underlying
assumptions. You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. We do not
undertake to update forward-looking statements, whether as a result of
new information, future events or otherwise.
Source: Molson Coors Brewing Company
Molson Coors Brewing Company
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