Molson Coors CFO Mauricio Restrepo leaves abruptly

  • After about half a year on the job
  • Tracey Joubert takes over

(management-change.com) — Denver, Colorado, November 17, 2016 — Mauricio Restrepo, finance chief of Molson Coors, leaves. It is an abrupt change. As announced by Molson Coors Brewing Company in a news release and in a regulatory filing published on Thursday, November 17, 2016, Mauricio Restrepo leaves the post as Chief Financial Officer at the maker of beer and other beverage products in a surprising move after about half a year on the job, effective immediately.

No company wants a CFO to flame out in the first year.

Restrepo’s duties are taken over by Tracey Joubert, most recently Chief Financial Officer of the US business at Molson Coors Brewing Company.

“Matters regarding personal conduct”

Restrepo’s sudden departure is explained as follows. Molson Coors said in a fairly blunt statement: “Mr. Restrepo resigned because of matters regarding personal conduct unrelated to the operations or financial statements of the Company.”

Precise information about the future plans of Restrepo was not immediately available.

Share price rise since May 2013

The change follows a rise in the share price of Molson Coors Brewing Company since May 2013.

Chaired by Geoff Molson

Molson Coors Brewing Company is chaired by Geoff Molson.

Molson has served as Chairman and a General Partner (since December 2009), and is the President and Chief Executive Officer (since June 2011) of the CH Group Limited Partnership, owner of the Montréal Canadiens Hockey Club, Evenko and The Bell Centre.

Mark R. Hunter has been the Chief Executive Officer and President at Molson Coors Brewing Company since January 1, 2015.

On the job as CFO since 2016

Restrepo has been the Global Chief Financial Officer of Molson Coors Brewing Company since May 2, 2016.

A highly accomplished international finance executive, Restrepo has more than a dozen years of experience in the beer and spirits industries.

He joined Molson Coors from Beam Suntory, the world’s third largest spirits company, where he had been Senior Vice President and Global Chief Financial Officer since 2014.

Prior to joining Beam Suntory, Restrepo spent nine years with SABMiller in senior finance roles, first as CFO of SABMiller Latin America and later CFO of SABMiller Europe.

He joined SABMiller in 2005 when it acquired Colombia-based Grupo Empresarial Bavaria where he was CFO.

Before entering the beverage alcohol business, Restrepo held commercial and finance positions at Random House, South American automaker SOFASA, and JP Morgan.

Restrepo holds a Master of Business Administration from Harvard Business School and a Bachelor of Science in economics and mathematics from Tufts University.

Read the full story in the management-change.com report 43.2016 ($).