Geoff Molson is Molson Coors chairman

Geoff Molson is Molson Coors chairman

Molson Coors board member Geoff Molson has assumed the role of chairman - a position previously held by Pete Coors.

The job swap, which is part of a by-law that allows the chairman and vice chairman positions to alternate between the Molson and Coors families on a rotating two-year term, will see Pete Coors become vice chairman.

Molson said: "This has been a time of transformation at Molson Coors under Coor’s guidance as chairman. Under his leadership, the company has significantly expanded its portfolio of products to ensure we are providing the right mix of flavour profiles to satisfy today’s consumer. At the same time, the company has also continued its expansion into select global markets, growing the footprint of brands like Coors Light, Carling and Staropramen. During Coor’s tenure, we also identified the right candidate in Mark Hunter to succeed outgoing CEO Peter Swinburn."

Geoff Molson has served as a Molson Coors director since December 2009.

Pete Coors is chairman of MillerCoors, Molson Coors’ US joint venture with SABMiller.

Last month, Molson Coors posted a sharp drop in first-quarter sales and profits.