Company Website:
http://www.molsoncoors.com
DENVER & MONTREAL -- (Business Wire)
Molson Coors Brewing Company (NYSE: TAP; TSX: TPX) today announced that
after a 40-year career in the beer business, Peter S. Swinburn, Chief
Executive Officer and President, has decided to retire from the Company
and its Board of Directors on December 31, 2014. The Board has named
Mark R. Hunter, currently CEO and President of Molson Coors Europe and a
25-year industry veteran, CEO and President of Molson Coors, effective
upon Mr. Swinburnâs retirement, at which time he will also join the
Companyâs Board. Mr. Swinburn, 61, who has served as Molson Coorsâ CEO
since 2008, will continue to lead the company until his retirement,
working closely with the Board and Mr. Hunter to ensure a smooth
transition.
Peter H. Coors, Chairman of the Board, said, âOn behalf of the Board, I
want to thank Peter for his extraordinary contributions over the past
six years as our companyâs CEO. Peter has personified the values,
culture and performance that have become the hallmark of our
organization and as a Board, we respect his decision to retire and
appreciate his continued leadership through this transition. Peter has
led the Company through a period of significant growth and change, with
milestones that include the formation of the MillerCoors JV in the U.S.,
the acquisition of StarBev in Europe, and the development of additional
strong and growing global brands. Simply put, we are a stronger, more
global and more dynamic company today as a result of Peterâs influence.
âAt the same time, we are excited that we have an executive of Markâs
caliber who can seamlessly step into the CEO role,â said Mr. Coors.
âMark is a true leader and brings a deep knowledge of all aspects of our
business, as well as years of exceptional brand-building and commercial
beer industry expertise. He is also recognized throughout our
organization for his integrity and belief in the extraordinary people
who make Molson Coors so successful. The Board is confident that Mark is
the right person to lead us going forward and continue our strong
momentum.â
Mr. Swinburn said, âIt has been a privilege to be part of the Molson
Coors organization for the past 12 years, and I am proud of all we have
accomplished during my time here. Molson Coors has the right strategy in
place, a strong financial foundation, and some of the most dedicated and
talented leadersâlike Mark Hunterâin the beer industry. I am confident
that under Markâs leadership, the Companyâs best days are ahead. At the
same time, it is business as usual at Molson Coors and we will remain
focused on growing our brands and creating value for shareholders.â
Mr. Hunter remarked, âMolson Coors is extremely well-positioned for
growth, with world-renowned brands, strong market share across key
geographies, and the most talented and dedicated employees in the
industry. I am grateful to the Board for its vote of confidence and look
forward to working closely with them and with our management team over
the coming months to ensure a seamless transition and execute on our
strategy for growing brands and shareholder value.â
Mark Hunter Biography
Mr. Hunter, 51, most recently served as CEO and President of Molson
Coors Europe since January 2013. Prior to this role, Mr. Hunter served
as CEO and President of Central Europe since June 2012 and as CEO and
President of MCBC UK from December 2007 until June 2012. Previously,
from May 2005 to November 2007, he was Chief Commercial Officer for
Molson Coors Canada, where he was responsible for all sales and
marketing activities.
From 1997 to 2005, he served on the board of Bass Brewers Ltd. and Coors
Brewers Limited (now MCBC UK) as Marketing Director. During such time,
Mr. Hunter had accountability for the Bass Brewers brand portfolio
including Carling plus business unit strategy and export development.
From 1989 to 1997, Mr. Hunter held marketing leadership roles for Bass
Brewers. Before joining Bass Brewers in 1989, he held sales positions
with Hallmark Cards and Bulmers Drinks. Mr. Hunter holds a Bachelor
Honours degree in Marketing and Business Administration from the
University of Strathclyde in Glasgow, Scotland, where he was also
awarded an Honorary Doctorate in 2009.
Forward-Looking Statements
This press release includes estimates or projections that constitute
âforward-looking statementsâ within the meaning of the U.S. federal
securities laws.Generally, the words âbelieve,â "expect,â
"intend,â "anticipate,â âproject,â âwill,â 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 Companyâs historical experience, and present projections and
expectations are disclosed in the Companyâs filings with the Securities
and Exchange Commission (âSECâ).These factors include, among
others, impact of competitive pricing and product pressures; health of
the beer industry and our brands in our markets; economic conditions in
our markets; pension plan costs; availability or increase in the cost of
packaging materials; our ability to maintain manufacturer/distribution
agreements; our ability to implement our strategic initiatives,
including executing and realizing cost savings; our ability to
successfully integrate our Central Europe business; 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; risks relating to operations
outside North America; success of our joint ventures; lack of
full-control over the operations of MillerCoors; and other risks
discussed in our filings with the SEC, including our Annual Report on
Form 10-K for the year-ended December 31, 2013, 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.
Overview of 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. For the past two years, the company has been listed on
the Dow Jones Sustainability World Index and named global Beverage
Sector Leader. Molson Coors is constantly looking for ways to improve
its Beer
Print. For more information on Molson Coors Brewing Company, visit
the company's Web site, www.molsoncoors.com.
Contacts:
Molson Coors Brewing Company
Media:
Colin
Wheeler, 303-927-2443
or
Investor Relations:
Dave
Dunnewald, 303-927-2334
Source: Molson Coors Brewing Company
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