Molson Coors CEO Gavin Hattersley to retire by end of 2025

GOLDEN, Colo. & MONTREAL - Molson Coors Beverage Company (NYSE: TAP, TAP.A; TSX: TPX.A, TPX.B) announced today that Gavin Hattersley, its President and CEO, is set to retire by December 31, 2025. Hattersley, who has been part of the beer industry for 28 years and has held the CEO position for over six years, will also step down from his role on the Board of Directors.

The company has initiated a search for Hattersley’s successor, led by the Governance Committee, which will evaluate both internal and external candidates with the assistance of a nationally recognized search firm.

During his tenure, Hattersley has been credited with navigating the company through significant challenges and leading Molson Coors to growth, achieving a perfect Piotroski Score of 9 and maintaining dividend payments for 51 consecutive years. Geoff Molson, Board Chair, praised Hattersley’s contributions, stating that he has "lived up to their rich legacy" and will leave a lasting impact on the business and the beer industry. According to InvestingPro analysis, the company currently appears undervalued based on its Fair Value estimates.

Board Vice-Chair David Coors also commended Hattersley’s leadership, highlighting his role in fostering a culture of integrity and teamwork.

Hattersley’s career in the beer industry began with South African Breweries in 1997, eventually moving to the U.S. business when SAB acquired Miller in 2002. He has been instrumental in the company’s growth, leading to annual net sales revenue of $11.6 billion and underlying income before income taxes of $1.6 billion in 2024.

Under his leadership, Molson Coors has seen its two highest years of annual net sales revenue and income before income taxes, with current revenue at $11.63 billion and a healthy gross profit margin of 39%. The company has also reduced its net debt by nearly 40% since the end of 2019 and has diversified its portfolio beyond beer, including a joint venture with D.G. Yuengling and Sons and a commercial relationship with The Coca-Cola Company. InvestingPro subscribers can access detailed financial health metrics and 8 additional ProTips about Molson Coors’ performance and valuation through comprehensive Pro Research Reports.

In a message to employees, Hattersley expressed pride in the team he has helped build and the success they have achieved together.

The Board aims for the next CEO to continue the momentum generated by Hattersley’s Revitalization and Acceleration Plans, focusing on strengthening core brands, premiumizing the portfolio, expanding beyond beer, and investing in the company’s capabilities and people.

This transition comes as part of Molson Coors’ broader strategy to maintain its market position and fulfill its long-term growth objectives. The information regarding this leadership change is based on a press release statement.

In other recent news, Molson Coors Beverage Company has been the focus of several analyst updates and company announcements. Berenberg initiated coverage on Molson Coors with a Buy rating and a price target of $86.90, indicating optimism about the company’s potential for growth beyond traditional beer offerings. In contrast, Piper Sandler maintained a Neutral rating with a $67 price target, citing challenges such as a decline in U.S. retail sales and the impact of discontinuing contract brewing volumes. Despite these challenges, Piper Sandler adjusted its earnings per share estimates slightly downward for 2025 and 2026, reflecting anticipated operational hurdles.

TD Cowen raised its price target for Molson Coors to $60, maintaining a Hold rating after the company reported better-than-expected fourth-quarter earnings. The earnings beat was attributed to a lower effective tax rate, and the company has set a 2025 outlook for low single-digit sales growth and high single-digit EPS growth. Bernstein also raised its price target to $65 while keeping a Market Perform rating, highlighting strong fourth-quarter performance but noting uncertainties in the U.S. beer industry, including demographic trends and potential tariff risks.

In corporate governance news, Molson Coors announced the retirement of Julia M. Brown from its Board of Directors, effective at the 2025 Annual Meeting of Stockholders. This decision was made to allow Brown to focus on global philanthropic efforts and was not due to any disagreements with the company. Molson Coors has not announced a successor for Brown, and her retirement is part of routine board member changes. These developments reflect the company’s ongoing strategic adjustments and the varied outlooks from different analyst firms.

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