SABMiller and Molson Coors Brewing Co. have formed an executive team for the joint venture between Miller Brewing Co. and Coors Brewing Co., just five days after the deal was approved by the U.S. Department of Justice, the companies said.
London-based SABMiller and Denver-based Molson Coors agreed in October last year to merge the U.S. and Puerto Rico operations of Miller Brewing Co. and Coors Brewing Co., forming “MillerCoors” in an effort to better compete with domestic brewer Anheuser-Busch, which commands 48.5% share of domestic beer sales.
The new management team for MillerCoors will serve under the previously named leadership team that will be led by MillerCoors CEO Leo Kiely, the current CEO of Denver-based Molson Coors.
Miller CEO Tom Long, meanwhile, will be president and chief commercial officer of MillerCoors, while Tim Wolf, current CFO of Molson Coors, will be the chief integration officer. Gavin Hattersley, current senior vice president of finance at Miller, will be the chief financial officer, the companies said.
The 14-member MillerCoors leadership team will be comprised of seven executives from Miller and seven from Coors.
"We had an eye on balance," Kiely said. The following appointments to the MillerCoors leadership team (including current positions) will become effective upon the June 30 transaction closing.