- Push-out Score determined
- After about five years in the position
- Accolades, praise and thanks for Hunter
- Gavin Hattersley taking over
- Hunter spoke at length and said 136 words
(exechange) — Denver, Colorado & Montreal, Quebec, Canada, July 31, 2019 — Mark Hunter, chief executive of Molson Coors, leaves. As announced by Molson Coors Brewing Co. in a news release and in a regulatory filing published on Wednesday, July 31, 2019, Mark R. Hunter leaves his post as Chief Executive Officer at the multinational brewing company after about five years in the role, effective September 27, 2019.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 7.4 years, according to data compiled by exechange.
Mark Hunter’s duties as CEO will be taken over by Gavin D.K. Hattersley, currently President and Chief Executive Officer of MillerCoors.
“To spend more time with his wife Fiona and two children”
Mark Hunter’s departure from the CEO post is explained as follows. Andrew Molson, chairman of the Molson Coors Board, said: “After a 36-year career with the last 30 years in the beer business Mark Hunter indicated his desire to retire from his position as Molson Coors President and CEO in order to spend more time with his wife Fiona and two children.”
Precise information regarding Mark Hunter’s future plans was not immediately available.
“Retirement”
Molson Coors said: “The Board of Directors of Molson Coors Brewing Company (NYSE: TAP; TSX: TPX) has accepted the retirement of current President and Chief Executive Officer Mark Hunter, effective September 27, 2019 and has named Gavin Hattersley as Molson Coors President and Chief Executive Officer effective as of September 28, 2019.”
Molson Coors further said: “On July 30, 2019, Mark R. Hunter, the President and Chief Executive Officer of Molson Coors Brewing Company (the “Company”) informed the Company Secretary and the Board of Directors of the Company (the “Board”) of his intention to retire as President and Chief Executive Officer of the Company and member of the Board effective September 27, 2019.”
Share price decline
The announcement follows a decline in Molson Coors Brewing Company’s share price of 47% since October 2016.
Chaired by Andrew Molson
Molson Coors Brewing Company is chaired by Andrew Molson.
In the position of CEO since 2015
Mark Hunter became CEO of the Company in January 2015.
Hunter has served as President and CEO of the Company since January 2015.
Prior to becoming President and CEO of the Company, he held various positions within the Company’s organization.
From January 2013 to December 2014, he served as President and Chief Executive Officer of Molson Coors Europe.
From June 2012 to January 2013, he served as President and Chief Executive Officer of Molson Coors Central Europe.
From December 2007 to June 2012, he served as President and Chief Executive Officer of Molson Coors UK.
Prior to that, he has served the Company in various roles of increasing responsibility for Molson Coors and its predecessor, Bass Brewers, since 1989.
Hunter holds a Bachelor Honours degree in Marketing and Business Administration from the University of Strathclyde in Glasgow, Scotland, where he was also awarded an Honorary Doctorate in 2009.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Molson Coors and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 31.2019 ($).