Peter Coors

About Peter J. Coors

Peter J. Coors (age 48) is a fifth-generation member of the Coors family and a director nominee at Molson Coors (TAP). He previously served on the Molson Coors Board from 2015–2020 and is currently Director of Capital Projects – G150 Project at Molson Coors, with prior roles spanning brewing, quality, and international craft development. His core credentials include master brewer training and deep experience in malting, brewing, packaging, integrated supply chain, and the U.S. beer industry .

Past Roles

External Roles

Board Governance

• Status: Director nominee for Class A; if elected, expected to join the Governance Committee and the Class A‑C Nominating Subcommittee .
• Independence: Not listed among independent directors under NYSE/charter definitions; family/employee status and Governance Committee composition indicate non‑independence for certain prescribed seats .
• Attendance: Board held 9 meetings in 2024; directors attended at least 75% of meetings and 94% in aggregate; regular executive sessions of independent directors held .

Fixed Compensation

Molson Coors CEO does not receive Board compensation; director retainers vary by chair roles (Audit: $130k; Comp & HR: $125k; Finance: $120k; Independent Governance Committee Member: $125k; Board Chair/Vice Chair: $195k) .

Performance Compensation

Other Directorships & Interlocks

Expertise & Qualifications

• Master brewer; deep knowledge of malting, brewing, packaging, and integrated supply chain; strong perspective on U.S. beer business .
• Extensive internal experience across quality assurance, international craft development, brewery operations, and capital projects .

Equity Ownership

Hedging/pledging policies: Company prohibits hedging and short sales; enhanced anti‑pledging policy requires Audit Committee pre‑approval for insiders and discloses outstanding pledges; Audit Committee concluded pledges are not reasonably likely to have a material adverse effect and has contingency plans .

Fixed Director Equity Outstanding (Peer Reference as of 12/31/2024)

Director stock ownership guideline: within 5 years, each director should own stock/stock equivalents equal to 5x annual retainer; all directors meet or are on track .

Related Party Transactions and Policies

• Any transactions with Molson/Coors family affiliates require full Board approval per Bylaws; other related person transactions (>$120k) require Audit Committee approval; disclosed family employment and long‑standing business relationships reviewed as fair and market‑comparable .
• Peter J. Coors is an employee; his 2024 compensation (~$302,188) was ordinary course and did not require related party approval under policy .

Say‑on‑Pay & Shareholder Feedback

Governance Assessment

• Strengths

  • Deep domain expertise in brewing and integrated supply chain; long‑tenured internal operator likely to enhance operational oversight on the Board .
  • Structured director compensation with equity RSUs and stringent ownership guidelines (5x retainer within 5 years); robust clawback policy aligned with NYSE Rule 10D‑1 and additional misconduct clawback adopted in 2025 .
  • Board effectiveness processes (third‑party assessment, executive sessions), strong anti‑hedging/short‑sale policy, and disclosed anti‑pledging framework with risk oversight by Audit Committee .

• Concerns and RED FLAGS

  • Independence: Not listed among independent directors; family and employee status; expected role on Class A‑C Nominating Subcommittee amplifies influence over director nominations (potential conflict with broader shareholder governance preferences) .
  • Family/related‑party exposure: Employee compensation and family governance roles (ACC board) present potential conflicts; mitigated by formal related‑party policies requiring full Board approval for family transactions .
  • Pledging risk: ACC has 14.6M Class B shares pledged (~$859.8M; ~7.2% TAP market cap), creating market/liquidity risk under stressed conditions; Audit Committee oversight and contingency plans in place, but risk remains a notable overhang for investors .

• Implications

  • Investors should weigh operational expertise benefits against governance concentration from family-controlled structures and pledging risk. Continued transparency on related‑party dealings, adherence to anti‑pledging controls, and demonstrated committee effectiveness will be key signals for board effectiveness and investor confidence .