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The new president of Molson Coors Brewing Co. has been putting a few rumours within the industry to rest. Leo Kiely has become the president of the newly-merged company, moving across from his position as president and CEO of Coors.

Following the vote of Coors' shareholders in favour of the merger yesterday (1 February), Kiely set about calming the waters.

Kiely began by dismissing any future merger with SABMiller. "You'll never get a clean answer until you do it," he told the National Post, "and then you have got to sit there for 18 months while (the regulators) figure out if they like it, and that is just a non-starter. It's too risky."

He then went on to say that he has not made a decision about Molson's disastrous US$1bn investment in Brazil. He expects a decision whether to pump more money into the Kaiser operation or sell the venture within two months.

The main appointments of the new board all hail from Coors. Kiely is the new CEO, while Timothy Wolf is chief financial officer. Peter Kendall is head of Adolph Coors international operations, and Robert Klugman is the global chief strategy officer of the new company.


Sectors: Beer & cider

Companies: Molson Coors, SABMiller

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