Molson Coors has announced its CEO Gavin Hattersley is to retire at the end of the year.
Hattersley has been CEO at Molson Coors since 2019 but will leave the brewer and stand down from its board by 31 December 2025.
He began his career in the beer industry in 1997 with South African Breweries and went on to hold senior leadership roles at SAB Miller, Miller Coors and Molson Coors.
Molson Coors achieved “its two highest years of annual net sales revenue and its two highest years of underlying income before income taxes” during Hattersley’s time at the helm, while also reducing its net debt by 40%, the supplier said.
It also diversified beyond beer into seltzer, energy drinks and – most recently via a deal with UK supplier Fever-Tree – soft drinks.
“Gavin has been a steady hand at the wheel as CEO, navigating through incredible challenges that no one could ever have predicted while guiding our company to growth, strengthening our foundation, and setting us up for an even brighter future to come,” said board chair Geoff Molson. “He will retire having left an indelible mark on our business and the global beer industry. We are incredibly appreciative of his leadership.”
A search would now take place to find Hattersley’s successor, encompassing both internal and external candidates, Molson Coors said.
The next CEO would be required to “build upon the successes” of Hattersley’s tenure while continuing to “strengthen the company’s core brands, premiumise its portfolio, expand beyond beer, and invest in the company’s capabilities and people”, the Carling and Madrí brewer added.
Sales at Molson Coors in FY24 dipped by 0.6%, to $11.63bn (£8.82bn).
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