Molson Coors Appoints Mauricio Restrepo as Chief Financial Officer
Molson Coors Brewing Company (NYSE: TAP; TSX: TPX) today announced that Mauricio Restrepo, 51, formerly the Senior Vice President and Chief Financial Officer of Beam Suntory, Inc., has been appointed to the role of Chief Financial Officer, Molson Coors, effective May 2, 2016. Until such date, David Heede will remain as interim CFO at which time he will resume his role as CFO for Molson Coors Europe.
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Mauricio Restrepo (Photo: Business Wire)
“Mauricio has an impressive track record in the alcohol beverage industry and is the ideal candidate to help Molson Coors grow and deliver shareholder value. In his prior roles, Mauricio has proved himself a key member of executive leadership teams, driving finance, tax, treasury, M&A, and business development in both developed and emerging markets," said Mark Hunter, President and CEO of Molson Coors Brewing Company. “Together with his deep knowledge of the Miller business internationally, we are fortunate to have attracted such a high caliber finance executive and look forward to leveraging his extensive knowledge and experience.
“At the same time, I want to thank David for a job well done as interim Global Chief Financial Officer since last November. David’s strong and steady leadership has been invaluable to our executive leadership team as we navigated through two earnings cycles and announced our game-changing acquisition of MillerCoors.”
Prior to his time with Beam Suntory, Restrepo spent nine years with SABMiller in senior finance roles, first as CFO of SABMiller Latin America and later CFO of SABMiller Europe. He joined SABMiller in 2005 when SAB acquired Colombia-based Grupo Empresarial Bavaria where he was Chief Financial Officer. Mauricio has also held commercial and finance leadership roles in the publishing, automotive and banking industries.
About Molson Coors
Molson Coors Brewing Company is a leading international brewer delivering extraordinary brands that delight the world's beer drinkers. It brews, markets and sells a portfolio of leading premium brands such as Coors Light, Molson Canadian, Carling, Staropramen and Blue Moon across The Americas, Europe and Asia. It operates in Canada through Molson Coors Canada; in the US through MillerCoors; across Europe through Molson Coors Europe; and outside these core markets through Molson Coors International. The company is the only alcohol producer currently recognized for world class sustainability performance through the Dow Jones Sustainability Index. It was listed on the World Index for the past four years and named global Beverage Sector Leader in 2012 and 2013. For more information on Molson Coors Brewing Company visit the company's website, http://molsoncoors.com or http://ourbeerprint.com
This press release includes statements that constitute “forward-looking statements” within the meaning of the U.S. federal securities laws. Generally, the words “believe,” "expect,” "intend,” "anticipate,” “project,” “will,” and similar expressions identify forward-looking statements, which generally are not historic in nature. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company’s historical experience, and present projections and expectations are disclosed in the Company’s filings with the Securities and Exchange Commission (“SEC”). These factors include, among others, our ability to successfully close, finance and integrate the acquisition of MillerCoors; our ability to achieve expected tax benefits, accretion and cost synergies; our ability to obtain necessary regulatory approvals for the acquisition of MillerCoors; impact of increased competition resulting from further consolidation of brewers, competitive pricing and product pressures; health of the beer industry and our brands in our markets; economic conditions in our markets; additional impairment charges; our ability to maintain manufacturer/distribution agreements; changes in our supply chain system; availability or increase in the cost of packaging materials; success of our joint ventures; risks relating to operations in developing and emerging markets; changes in legal and regulatory requirements, including the regulation of distribution systems; fluctuations in foreign currency exchange rates; increase in the cost of commodities used in the business; the impact of climate change and the availability and quality of water; loss or closure of a major brewery or other key facility; our ability to implement our strategic initiatives, including executing and realizing cost savings; our ability to successfully integrate newly acquired businesses; pension plan costs; failure to comply with debt covenants or deterioration in our credit rating; our ability to maintain good labor relations; our ability to maintain brand image, reputation and product quality; lack of full-control over the operations of MillerCoors and other risks discussed in our filings with the SEC, including our most recent Annual Report on Form 10-K, which is incorporated by reference therein. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We do not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise.
Dave Dunnewald, 303-927-2334
Colin Wheeler, 303-927-2443
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