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Molson Coors Beverage Company has announced that CEO Gavin Hattersley will retire by 31 December, ending a 28-year career in the beer industry.

Hattersley began his beer career at South African Breweries in 1997 and went on to hold senior roles at SABMiller, MillerCoors and Molson Coors. Following SAB’s acquisition of Miller in 2002, he became the first South African to transition into the US business, playing a key role in its growth. Under his leadership, Molson Coors saw strong financial performance, with 2024 net sales reaching $11.6 billion and pre-tax income hitting $1.6 billion.

He played a key role in establishing the MillerCoors US joint venture in 2008, serving as its first CFO before becoming CEO. He was appointed CEO of Molson Coors in September 2019.

The board of directors has begun the search for his successor, considering both internal and external candidates with the support of a national search firm.

Molson Coors board chair Geoff Molson said: “Gavin has been a steady hand at the wheel as CEO, navigating through incredible challenges that no one could ever have predicted while guiding our company to growth, strengthening our foundation and setting us up for an even brighter future to come".

"Our business today stands on the shoulders of the many generations of the Molson and Coors families who have come before us. Gavin has lived up to their rich legacy, and he will retire having left an indelible mark on our business and the global beer industry. We are incredibly appreciative of his leadership.”

The board said the next CEO will be expected to build on Hattersley’s strategic direction, with a continued focus on strengthening core brands, expanding premium offerings and growing the company’s presence beyond beer.