MillerCoors, the U.S. and Puerto Rican joint venture between SABMiller
plc (LN:SAB; OTC:SABMRY) and Molson Coors Brewing Company (NYSE: TAP;
TSX: TPX) today announced that CEO Tom Long intends to retire from the
company on June 30, 2015. The MillerCoors Board of Directors has
accepted Tom’s decision and is conducting a search to identify a
successor to lead MillerCoors through its next phase of growth and
development.
“It has truly been the honor of my career to run MillerCoors. I have
woken up every day excited to lead the company forward,” said Long.
“I am leaving a company and a team, both of which are stronger than they
have ever been. MillerCoors is in position to capitalize on the changing
forces within the U.S. beer industry more decisively than ever and my
team has the passion, conviction, creativity and business plan to win in
the long term in this industry."
“On behalf of the Board and all of the great people at MillerCoors, I
want to personally thank Tom for his effective and energetic leadership
of MillerCoors as its first president and chief commercial officer and
more recently as chief executive officer since 2011,” said Pete Coors,
chairman, MillerCoors Board of Directors. “His deep experience in the
U.S. and global beverage business was a perfect fit for the challenging
economic environment and rapidly changing industry dynamics we have
faced over the past several years. Under Tom’s leadership, the company
consistently delivered profit growth, pricing growth and cost savings,
while dramatically improving capabilities in key areas like innovation,
chain sales, revenue management, learning and development, and beer
knowledge and appreciation. We wish Tom and his wife Elizabeth all the
best in their future endeavors and will always regard them as special
members of the MillerCoors family.”
Alan Clark, deputy chairman, MillerCoors Board of Directors said,
“MillerCoors has a clear and disciplined strategy aimed at
reinvigorating our flagship American-style light lagers, capturing new
growth opportunities in the above premium segment, simplifying our
economy portfolio, driving innovation and going to market with an
independent three-tier system. While our strategies will always evolve
to meet the opportunities and challenges of the marketplace, we don’t
expect any major changes in direction. The Board will take the time
necessary to conduct a thoughtful, disciplined and collaborative process
aimed at selecting the best available talent to lead MillerCoors through
its next phase of growth and development.”
Long, age 56, has led MillerCoors as CEO since 2011, having been
president and chief commercial officer since the launch of the
MillerCoors joint venture in 2008. He had been president and CEO of
Miller Brewing Company since 2006, after joining Miller Brewing Company
as chief marketing officer in 2005. Before joining Miller, he served as
president of Coca-Cola’s Northwest Europe Division, which included Great
Britain, Ireland, France, Belgium, Luxembourg and the Netherlands. Tom
received his Bachelor of Arts from the University of North Carolina and
a Master in Business Administration from Harvard Business School. Long
serves on the Board of Directors for Wolverine Worldwide, is Vice Chair
of the University of North Carolina at Chapel Hill Board of Visitors and
trustee of the Boys and Girls Clubs of Milwaukee in addition to other
civic duties.
Overview of MillerCoors
Through its diverse collection of storied breweries, MillerCoors brings
American beer drinkers an unmatched selection of the highest quality
beers steeped in centuries of brewing heritage. Miller Brewing Company
and Coors Brewing Company offer domestic favorites such as Coors Light,
Miller Lite, Miller High Life and Coors Banquet, as well as innovative
new products such as Miller Fortune. Tenth and Blake Beer Company, our
craft and import division, offers beers such as Leinenkugel’s Summer
Shandy from sixth-generation Jacob Leinenkugel Brewing Company and Blue
Moon Belgian White from modern craft pioneer Blue Moon Brewing Company.
Tenth and Blake also operates Crispin Cidery, an artisanal maker of pear
and apple ciders using 100 percent fresh-pressed American juice. The
company imports world-renowned beers such as Italy’s Peroni, the Czech
Republic’s Pilsner Urquell and the Netherlands’ Grolsch. MillerCoors
also offers pioneering new brands such as Redd’s Apple Ale, Batch 19
Pre-Prohibition Lager, Third Shift Amber Ale and Smith & Forge Hard
Cider. MillerCoors seeks to become America’s best beer company through
an uncompromising promise of quality, a keen focus on innovation and a
deep commitment to sustainability. MillerCoors is a joint venture of
SABMiller plc and Molson Coors Brewing Company. Learn more at
MillerCoors.com, at facebook.com/MillerCoors or on Twitter through
@MillerCoors.
Overview of SABMiller
SABMiller plc is in the beer and soft drinks business. We are the
world's second largest brewing company and are one of the world's
largest bottlers of Coca-Cola drinks. We also produce a portfolio of
wholly-owned soft drinks brands. We are a FTSE-20 company, with shares
trading on the London Stock Exchange, and we have a secondary listing on
the Johannesburg stock exchange. We operate in more than 80 countries
with around 70,000 employees. The group's brand portfolio includes
leading local brands such as Aguila (Colombia), Castle (South Africa),
Miller Lite (USA), Snow (China), Victoria Bitter (Australia) and Tyskie
(Poland) as well as global brands such as Pilsner Urquell, Peroni Nastro
Azzurro, Miller Genuine Draft and Grolsch. Every minute of every day,
more than 140,000 bottles of SABMiller beer are sold.
In the year ended 31 March 2014, the group sold 318 million hectoliters
of lager, soft drinks and other alcoholic beverages, generating group
net producer revenue of US$26,719 million and EBITA of US$6,460 million
(restated).
Further information is also available on:
www.sabmiller.com
www.facebook.com/sabmiller
www.twitter.com/sabmiller
www.youtube.com/sabmiller
Overview of Molson Coors
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. The company has been listed on the Dow Jones
Sustainability World Index for the past four years and was named global
Beverage Sector Leader in 2012 and 2013. 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, http://molsoncoors.com.
Copyright Business Wire 2015