Peter Coors to Succeed Eric Molson as Molson Coors Chairman
Peter Coors to Succeed Eric Molson as Molson Coors Chairman
| Peter Coors to Succeed Eric Molson as Molson Coors Chairman |
| In a planned transition consistent with the company's by-laws, Molson Coors Brewing Co. announced yesterday that Peter Coors, the current vice chairman of the Molson Coors Board of Directors will assume the role of chairman, and Eric Molson, current chairman, will assume the role of vice chairman, effective Dec. 29, 2008. The by-laws provide for the chairman and vice chairman to alternate between the Molson and Coors families on a periodic basis. Eric Molson has announced his intention to retire from the board following the annual shareholders' meeting in May of 2009. Continuing more than two centuries of family brewing heritage, Andrew Molson, currently a board member, will assume the role of vice chairman upon the retirement of his father, Eric Molson. Geoff Molson will be nominated to stand for election at the May 2009 shareholders' meeting to fill the directorship previously held by his father. "Eric has done a remarkable job as chairman since the merger that brought our two great companies together. Under his leadership, we delivered on the promises of the merger by exceeding every goal we set for ourselves from synergies to strengthening our core business," says Coors. "Our entire organization is focused on creating even greater value for our shareholders through global growth and a brand portfolio that puts us first with consumers." Eric Molson comments, "As we look to the future, both families continue to share a long-term commitment to the beer industry and this company. 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." |
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