MillerCoors names Gavin Hattersley interim CEO

Looks like it’s a tough job to find a new CEO. MillerCoors has named Molson Coors’ Chief Financial Officer Gavin Hattersley its interim CEO. This was announced on 7 May 2015.

Mr Hattersley will assume this post on 30 June when CEO Tom Long retires. Mr Long told the board a year ago that he would step down. Mr Hattersley, 52, will hold the post for up to six months as the board continues its search for a permanent CEO.

MillerCoors is a joint venture between SABMiller and Molson Coors and the number two brewer in the U.S., with a 27 percent market share. Although Molson Coors has just a 42 percent economic interest in the MillerCoors joint venture, it has 50 percent voting control.

There has been a lot of speculation as to why MillerCoors has such troubles finding a successor to Mr Long. Could it be that one of the owners, SABMiller, has been the target of deal speculation and the new CEO’s tenure could ultimately be short-lived?

Mr Hattersley is well-regarded in the industry, but differences between MillerCoors’ owners may have slowed the selection process.

“It’s an uneasy partnership,” said Benj Steinman, editor of Beer Marketer