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Molson Coors names new CEO for Canadian operations; merges Europe business

Montreal, QC -- Molson Coors Brewing Co. has appointed a new chief executive to head its Canadian operations while merging its U. business with the recently acquired StarBev.


Montreal, QC — Molson Coors Brewing Co. has appointed a new chief executive to head its Canadian operations while merging its U. business with the recently acquired StarBev.

Stewart Glendinning, who currently heads the UK and Ireland division and was global former chief financial officer, will replace Dave Perkins in January 2013. Perkins is retiring after more than three years at helm of Molson Coors Canadian operations and 30 years in the beer industry.

Molson Coors (TSX:TPX.B) said combining its existing businesses in the UK, Ireland and operations in nine Central European countries will produce a more efficient, market-focused operation.

Headquartered in Prague, Molson Coors Europe will comprise about 23.6 million hectolitres of volume, representing 38% of the company’s global volumes. Net revenues of US$2.3 billion would be 30% of global net sales revenue.

Chief executive Peter Swinburn said the move will make Molson Coors a stronger competitor by using its resources more effectively. “With a larger European footprint, we’ll be able to negotiate better terms with suppliers, improve processes and integrate systems to increase efficiencies,” he stated.

Mark Hunter, who heads the Central European division, will lead the enlarged European operation.

Molson Coors is one of the world’s largest brewers with brands such as Coors Light, Molson Canadian, Staropramen and Carling.