Molson Coors CEO to retire and be replaced by Gavin Hattersley

Molson Coors has announced that its CEO, Mark Hunter, will retire on 27 September 2019, to be replaced by Gavin Hattersley.

Hunter, who has been CEO since 2015, told the Molson Coors board of directors that he is retiring to spend more time with his family after 30 years in the beer business.

Hattersley, 56, has served as CEO of MillerCoors, the US business unit, since 2015. From 2008 to 2012, he was CFO of MillerCoors. He came to Miller Brewing Company from SAB of South Africa, where he held several financial management positions before becoming CFO in 1999.

Andrew Molson, chairman of the Molson Coors board, said: “Leadership changes are planned for at the board level and this is part of our succession planning process at work. We respect Mark’s wishes and thank him for the significant impact he has made at our company. He’s led the company through a period of tremendous transformational change and has successfully helped more than double the size of our company.

“We are also delighted to name Gavin Hattersley as Mark’s replacement and the next CEO for Molson Coors. Gavin has led the US business for the past four years after serving as the Molson Coors CFO for the three years before that. He’s a skilled leader who understands what is required to drive shareholder value and build our portfolio of leading brands.”

The announcement comes as Molson Coors published its second-quarter results, in which it recorded a 4.9% decline in net sales compared to the year before. Underlying EBITDA was down to $676 million from $783.3 million last year. 

Mark Hunter said: “It’s been the joy of a lifetime to work on these great brands with so many inspirational colleagues for all of these years at Molson Coors. It’s been a great privilege to serve as Molson Coors president and CEO but I am also very much looking forward to the next chapter, which will be highlighted by spending more time with my wife Fiona and our two children back in the UK.

“I will forever remain a brand ambassador and advocate for this business and will be there to support Gavin every step of the way. I have worked very closely alongside Gavin for many years and know the sharpness of his intellect, the intensity of his passion for the company and quality of his character and he will be a terrific leader of the overall business.”

Gavin Hattersley added: “I am privileged and honoured to lead the company and succeed Mark in this role. Mark has been a great leader, friend, mentor and boss and has led this company through some dramatic change and I will be forever in his debt.

“I care deeply about our company, our brands and our people. My commitment is to work hard, to be an empathetic leader and, above all, do whatever is necessary to maximise the potential of our business in order to restore shareholder value.”