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    Molson Coors Beverage Co (TAP)

    CEO Change

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    Molson Coors Beverage Company, with a history spanning over two centuries, is primarily engaged in brewing beverages that unite people for celebrations. The company produces a diverse range of products, including core power beer brands such as Coors Light, Miller Lite, Coors Banquet, Molson Canadian, Carling, and Ožujsko . Additionally, they offer above premium brands like Madri, Staropramen, Blue Moon Belgian White, and Leinenkugel’s Summer Shandy, as well as economy and value brands like Miller High Life and Keystone . Beyond beer, their portfolio includes flavored beverages like Vizzy Hard Seltzer, spirits such as Five Trail whiskey, and non-alcoholic beverages .

    1. Core Power Beer Brands - Produces popular beer brands including Coors Light, Miller Lite, Coors Banquet, Molson Canadian, Carling, and Ožujsko.
    2. Above Premium Brands - Offers premium beer options such as Madri, Staropramen, Blue Moon Belgian White, and Leinenkugel’s Summer Shandy.
    3. Economy and Value Brands - Provides budget-friendly beer options like Miller High Life and Keystone.
    4. Flavored Beverages - Includes products like Vizzy Hard Seltzer, catering to consumers seeking flavored alcoholic drinks.
    5. Spirits - Features products such as Five Trail whiskey, expanding the company's offerings beyond beer.
    6. Non-Alcoholic Beverages - Offers a range of non-alcoholic drink options to cater to diverse consumer preferences.
    NamePositionStart DateShort Bio
    Gavin D.K. HattersleyPresident and Chief Executive OfficerSeptember 2019Gavin D.K. Hattersley has been the President and CEO of Molson Coors since September 2019. He has extensive experience in the beer industry, having served in various roles at Molson Coors since 2002 .
    Tracey I. JoubertChief Financial OfficerNovember 2016Tracey I. Joubert has been the CFO of Molson Coors since November 2016. She previously served as CFO and Executive VP of MillerCoors from 2012 to November 2016 .
    Sergey YeskovPresident and CEO of Molson Coors EMEA & APACJanuary 2022Sergey Yeskov has been serving as the President and CEO of Molson Coors EMEA & APAC since January 2022. He was previously the Managing Director for Central and Eastern Europe .
    Natalie MaciolekChief Legal & Government Affairs Officer and SecretarySeptember 5, 2023Natalie Maciolek has been serving as the Chief Legal & Government Affairs Officer and Secretary at Molson Coors since September 5, 2023. She previously held senior roles at Kohler Co. .
    Michelle E. St. JacquesChief Commercial OfficerMarch 1, 2023Michelle E. St. Jacques has been the Chief Commercial Officer of Molson Coors since March 1, 2023. She was previously the Chief Marketing Officer of Molson Coors from November 2019 to February 2023 .
    Miroslav HoljevacPresident of Management BoardN/AMiroslav Holjevac serves as the President of the Management Board at Zagrebačka Pivovara d.o.o., part of the Molson Coors Group. Specific details about his start date are not provided.
    Alina RuzicMember of Management BoardOctober 17, 2024Alina Ruzic serves as a Member of the Management Board at Molson Coors. She was involved in signing an agreement on behalf of the company on October 17, 2024 . Further details about her career background are not provided.
    1. Given that you have adjusted your net sales revenue guidance to down approximately 1% from low single-digit growth previously , how confident are you in your ability to achieve positive top-line growth in the coming year , especially considering the softer-than-anticipated U.S. industry performance during the peak summer selling season and the potential pressures on consumer spending?

    2. With the closure of your two underutilized U.S. regional craft breweries, Chippewa Falls and Tenth Street in Wisconsin, and shifting production to Milwaukee , can you elaborate on how this decision impacts your craft beer strategy and what steps you are taking to address the challenges in the U.S. above-premium segment ?

    3. You've increased your ownership stake in ZOA to 51% , despite its current small presence in scanner data and limited performance ; what gives you confidence that this investment will drive significant growth, and how do you plan to scale the brand in a highly competitive energy drink market ?

    4. You mentioned plans to onshore production of Peroni to improve supply consistency and introduce new pack sizes ; given the competitive and promotional environment in the import beer segment , what is your strategy to achieve significant growth for Peroni in the U.S. and how will you differentiate it from established European imports ?

    5. Considering that you are expecting annual net price increases of 1% to 2% in North America , and mix to be a meaningful growth driver as you aim to reach about one-third of global net brand revenue from above premium , how do you plan to balance pricing and premiumization efforts with potential impacts on volume, particularly in light of shifting consumer preferences and economic uncertainties ?

    Program DetailsProgram 1
    Approval DateSeptember 29, 2023
    End Date/DurationFive years
    Total additional amount$2.0 billion
    Remaining authorization amount$1,416,863,668
    DetailsThe program allows flexibility to repurchase shares based on market conditions, liquidity needs, and other factors. It replaces and supersedes any previous repurchase programs. The Board may suspend, modify, or terminate the program at any time without prior notice.
    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    2024$37.7Short-term borrowings and current portion of long-term debtN/A0.6% = (37.7 / 6,240.7) * 100
    2026$2,369.7CAD 500M 3.44% senior notes, $2.0B 3.0% senior notes3.44%, 3.00%38.0% = (2,369.7 / 6,240.7) * 100
    2032$890.8EUR 800M 3.8% senior notes3.80%14.3% = (890.8 / 6,240.7) * 100
    2042$1,100.0$1.1B 5.0% senior notes5.00%17.6% = (1,100.0 / 6,240.7) * 100
    2046$1,800.0$1.8B 4.2% senior notes4.20%28.8% = (1,800.0 / 6,240.7) * 100

    Competitors mentioned in the company's latest 10K filing.

    • Anheuser-Busch InBev SA/NV (ABI): Competes directly with Molson Coors in the U.S. and Canada .
    • Asahi: Primary competitor in European countries where Molson Coors operates .
    • Carlsberg: Primary competitor in European countries where Molson Coors operates .
    • Heineken: Primary competitor in European countries where Molson Coors operates .
    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLP1974 PresentCurrent auditor

    Recent developments and announcements about TAP.

    Corporate Leadership

      CEO Change

      ·
      Oct 18, 2024, 12:00 AM

      Sergey Yeskov, the President and Chief Executive Officer of Molson Coors Beverage Company's EMEA&APAC business, has resigned from the company for personal reasons. His resignation was effective as of October 17, 2024. Mr. Yeskov will be on 'garden leave' until December 31, 2024, after which his employment will officially terminate. He will receive a severance payment and other benefits as part of a mutual termination agreement .