Rotating Chairmanship Key Element of 2005 Merger of Equals
MONTREAL & DENVER--(BUSINESS WIRE)--Jun. 3, 2015--
In a planned transition consistent with the company's by-laws, Molson
Coors Brewing Company (NYSE: TAP; TSX: TPX) today announced that Geoff
Molson, a member of the Molson Coors Board of Directors, will assume the
role of chairman, and Pete Coors, current chairman, will assume the role
of vice chairman, effective June 3, 2015. The by-laws provide for the
chairman and vice chairman to alternate between the Molson and Coors
families on a rotating two-year term.
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Geoff E. Molson (Photo: Business Wire)
"This has been a time of transformation at Molson Coors under Pete’s
guidance as chairman. Under his leadership, the company has
significantly expanded its portfolio of products to ensure we are
providing the right mix of flavor profiles to satisfy today’s consumer.
At the same time, the company has also continued its expansion into
select global markets, growing the footprint of brands like Coors Light,
Carling and Staropramen. During Pete’s tenure, we also identified the
right candidate in Mark Hunter to succeed outgoing CEO Peter Swinburn,"
said Geoff Molson. "As incoming chairman, I look forward to continued
engagement with our strong, independent board and leadership team as we
build on these successes to further strengthen Molson Coors’ position in
the market.”
"I am pleased to be passing the chairmanship to Geoff, a seventh
generation member of the Molson family. As we look to the future, both
families continue to share a long-term commitment to the beer industry
and this company. This was certainly reflected in Andrew Molson’s
leadership as both vice chairman and chairman over the past four years
as he played a vital role in our successes and strategic direction,”
Pete Coors commented. “Our generations of family leadership drive us to
take a long-term view of building value by investing in brands,
attracting and retaining the best talent, and ensuring quality across
the entire enterprise. I have every confidence in the leadership of our
company and our prospects for future growth.”
Geoff Molson has served as a Molson Coors director since December 2009,
and is the president and chief executive officer of the CH Group Limited
Partnership, as well as owner of the Montréal Canadiens Hockey Club,
evenko, l’Équipe Spectra and The Bell Centre. From 2006 to December
2009, Mr. Molson served as vice-president of marketing for Molson in
Canada. He previously held various positions in sales, marketing,
quality and distributor development at Molson from 1999 to 2005,
including Vice President for Molson USA. Mr. Molson holds an MBA from
Babson Business School and a BA from St. Lawrence University. He is a
member of The Molson Foundation, a family foundation dedicated to the
betterment of Canadian society, as well as St. Mary’s Hospital
Foundation and the Montreal Canadiens Children’s Foundation.
Pete Coors is chairman of the board of MillerCoors, Molson Coors’ US
joint venture. He previously served as chairman of the board of Adolph
Coors Company from 2002 to 2005, and was chief executive officer from
May 2000 to July 2002. Mr. Coors also served as a director of Coors
Brewing Company, the company's US-based subsidiary, beginning in 1973.
In 2002, he was named executive chairman, and was chief executive
officer from 1992 to 2000. He joined Adolph Coors Company in 1971 where
he held a number of executive and management positions. Mr. Coors is
also a director of both Energy Corporation of America and University of
Colorado Hospital. In addition, Mr. Coors is chairman of the University
of Colorado Hospital Foundation and a trustee of Johnson & Wales
University.
About Molson Coors Brewing Company
Molson Coors Brewing Company is a leading global brewer delivering
extraordinary brands that delight the world's beer drinkers. It brews,
markets and sells a portfolio of leading premium brands such as Coors
Light, Molson Canadian, Carling, Staropramen and Blue Moon across The
Americas, Europe and Asia. It operates in Canada through Molson Coors
Canada; in the US through MillerCoors; across Europe through Molson
Coors Europe; and outside these core markets through Molson Coors
International. The company has been listed on the Dow Jones
Sustainability World Index for the past four years and was named global
Beverage Sector Leader in 2012 and 2013. Molson Coors is constantly
looking for ways to improve its Beer Print. For more information on
Molson Coors Brewing Company visit the company's website, www.molsoncoors.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150603005341/en/
Source: Molson Coors
Molson Coors
Colin Wheeler, 303 927-2443
Colin.wheeler@molsoncoors.com
or
Francois
Lefebvre, 514 529-8583
Francois.lefebvre@molsoncoors.com