Molson Coors CEO Gavin Hattersley to Retire by 2025 End; Board Initiates Succession Search
Molson Coors Beverage Company (NYSE: TAP, TAP.A; TSX: TPX.A, TPX.B) has officially announced that Gavin Hattersley, after 28 years in the beer industry and more than six years at the helm of the company, will retire by the end of 2025. This decision marks the end of a transformative leadership period for the company, with Hattersley stepping down as both CEO and a member of the Board of Directors. The Board of Directors has begun the process of identifying and appointing a successor, with the Governance Committee leading this search. The company will receive assistance from a prominent, nationally recognized search firm in finding the next CEO. The Committee will evaluate both internal and external candidates as part of the selection process.
Board Chair Geoff Molson expressed his admiration for Hattersley’s leadership and the remarkable impact he had during his tenure. “Gavin has been a steady hand at the wheel as CEO, navigating through incredible challenges that no one could ever have predicted while guiding our Company to growth, strengthening our foundation, and setting us up for an even brighter future to come,” said Geoff Molson. He highlighted that the growth and success the company enjoys today are built upon the legacies of the Molson and Coors families. Hattersley, according to Molson, has upheld that legacy and will retire with a lasting mark on both Molson Coors and the global beer industry.
David Coors, the Board’s Vice-Chair, also praised Hattersley’s integrity and his ability to bring people together. “Gavin has always been a leader you can count on to operate with integrity, share his views openly and honestly, bring teams together, and do what’s best for the business,” said Coors. “Whether it’s our people or our partners, Gavin’s leadership has helped everyone around our business be their best, and he’s put our Company on a path to an even brighter future. I want to thank Gavin for his many years of service, his leadership, and his passion for our collective success.”
Hattersley’s retirement will mark the culmination of a distinguished career in the beer industry. He entered the industry in 1997 with South African Breweries (SAB), before working his way through leadership roles at SABMiller, MillerCoors, and ultimately Molson Coors. He became the first South African to join the U.S. operations of SAB after it acquired Miller in 2002. His leadership played a pivotal role in helping shape the expansion of the business, and the results are evident in the company’s performance today. Under Hattersley’s leadership, Molson Coors has enjoyed substantial financial growth, with annual net sales revenue reaching $11.6 billion and underlying income before income taxes hitting $1.6 billion in 2024.
A major milestone of Hattersley’s career was his involvement in the creation of the MillerCoors joint venture in 2008, where he served as CFO and later CEO. His tenure as CEO of Molson Coors began in September 2019, and in that time, the company achieved its highest levels of annual net sales revenue and underlying income before income taxes. Additionally, Hattersley’s strategic vision helped the company significantly reduce its net debt by nearly 40% since 2019, strengthening its financial position and enhancing its balance sheet to levels not seen since the MillerCoors merger in 2016.
One of the key strategic initiatives Hattersley championed was the transformation of Molson Coors into a total beverage company. Through the Revitalization Plan and later the Acceleration Plan, Hattersley oversaw the premiumization of Molson Coors’ global brand portfolio. The company also expanded its footprint beyond beer, forging new partnerships such as the joint venture with D.G. Yuengling & Sons and a strategic alliance with The Coca-Cola Company, along with securing commercialization rights for Fever-Tree in the U.S. market.
Throughout these significant achievements, Hattersley expressed that his most cherished accomplishment was the team he helped build and the careers he nurtured. “We have accomplished so much over the past six years, and one thing I’m certain of is that none of it would have been possible without each of the 16,000 people across our business,” Hattersley shared in a message to Molson Coors employees. “You built the plans. You brought them to life. You pushed in the right places. You saw what others didn’t. You were willing to take smart risks, to live up to the rich history of our brands while building for an even brighter future.”
Hattersley’s leadership style focused on integrity, open communication, and collaboration, all while emphasizing the importance of driving the business forward. His ability to navigate challenges, whether they were external market pressures or internal organizational changes, earned him respect within the company and the broader beer industry.
Looking ahead, the Board intends for Hattersley’s successor to continue the momentum established by his Revitalization and Acceleration Plans. The next CEO will be tasked with building upon the strong foundation laid by Hattersley, further strengthening Molson Coors’ core brands, premiumizing the product portfolio, expanding beyond beer, and investing in the company’s people and capabilities to drive long-term growth. The search for a new CEO comes at a pivotal moment for the company, as it seeks to maintain its leadership in an evolving industry and ensure sustained success for the future.
With the appointment of a new leader, Molson Coors aims to continue its transformation into a diversified beverage company, capitalizing on emerging trends in the industry and expanding its reach into new markets. The coming months will be crucial as the company selects the right candidate to guide it through the next phase of its journey.
