US: SABMiller, Molson Coors adds to US j-v exec team
The brewers confirmed yesterday (9 April) that Tim Wolf will become chief integration officer-designate and Gavin Hattersley will assume the post of CFO-designate at Miller Coors in October, by which time the transaction should have closed. As previously announced, Leo Kiely, the current CEO of Molson Coors, will be the CEO of the joint venture, with Miller's current CEO, Tom Long, serving as president and chief commercial officer.
Wolf has served as CFO of Molson Coors since the 2005 merger of Molson and the Adolph Coors Company. Prior to 2005, Wolf spent ten years as CFO for the Adolph Coors Company and Coors Brewing Company.
Hattersley has served as senior vice president of finance at Miller Brewing since 2002. Prior to that role, he held various positions at SAB Limited in Johannesburg, South Africa, including chief financial officer with responsibility for the financial aspects of all breweries and sales, distribution finances, credit management and finance re-engineering. Hattersley joined SAB Limited in 1997.
Earlier this week, SABMiller and Molson Coors received the go-ahead for the merger from the European Commission although, late last year, the two brewers were advised by the anti-trust division of the US Department of Justice that it required further information regarding the companies' proposed collaboration.
"We are cooperating fully with regulators in the antitrust clearance process and continue to prepare for the transaction to close by mid-2008, following regulatory clearance," said Kiely. "We felt it was critical to designate the CFO and CIO roles now in order to facilitate the planning process and allow us to hit the ground running upon close."
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