US/CANADA: Molson Coors director stands down

By | 5 December 2007

Molson Coors Brewing Co. has confirmed that one of its board directors has resigned.

Speaking to just-drinks today (5 December), a spokesperson for the North American brewer said that Gary Matthews has resigned with immediate effect. Matthews is leaving the company to become chairman of Tops Markets, a grocery supermarket franchise in the north-east US.

Matthews' departure takes immediate effect, the spokesperson added, while the brewer will "take its time" to find a replacement.

Last month, Molson Coors posted a 1% slip in net income for its third quarte, with volume sales down by 0.2% year-on-year in the period. Net income for the three months to September hit US$134.7m, with sales volumes down by 0.2% to 11.21m barrels. The company blamed a "weather-related decline in sales" in the UK for the volume slide.

Sectors: Beer & cider

Companies: Molson Coors

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