Global brewer Molson Coors today announced the formation of a new business segment, Molson Coors Europe, by combining its existing businesses in the UK and Ireland with its recently-acquired business in nine Central European countries, effective January 1, 2013. Headquartered in Prague, Molson Coors Europe will comprise approximately 23.6 million hectoliters of volume and $2.3 billion of net sales revenue on a pro forma US GAAP basis for 2011. These figures represent approximately 38% of Molson Coors Brewing Company’s 2011 pro forma worldwide beer volume and 30% of global net sales revenue.
“This move makes us a stronger competitor,” said Peter Swinburn, CEO, Molson Coors. “It allows us to use our go-to-market resources more effectively in the region and promotes better sharing of commercial best practice and marketing expertise. With a larger European footprint, we’ll be able to negotiate better terms with suppliers, improve processes and integrate systems to increase efficiencies.”
Mark Hunter, currently CEO, Molson Coors Central Europe, has been named CEO of the new business. Prior to his current assignment, Hunter served as CEO, UK and Ireland and as Chief Commercial Officer for Molson Coors Canada. He has also served on the board of Bass Brewers as Marketing Director and on the board of Coors Brewers Ltd.
“Mark has gained deep insight into the Central Europe business and he brings extensive first-hand experience with the UK and Ireland to his new, expanded role,” noted Swinburn.
Stewart Glendinning, now CEO, UK and Ireland, will become CEO, Molson Coors Canada upon the retirement of current CEO Dave Perkins at the end of January, 2013. Prior to taking the helm in the UK, Glendinning was Global Chief Financial Officer. Before joining Molson Coors in 2005, he worked with KPMG and then The Hackett Group, both professional services companies where he held senior roles.