LONDON & DENVER--(BUSINESS WIRE)--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).
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.