New CEO

Molson Inc., has announced the appointment of Daniel O’Neill as president and CEO, replacing James Arnett who will step down at the company’s annual meeting on 27 June. Mr O’Neill joined the brewer in 1999 as COO and has played a key role in transforming the former conglomerate into a focused brewing company. The brewer announced that it lost CAN$44 million last year as restructuring costs of CAN$224 million offset strong growth in operating profits.
The Montreal-based brewer posted operating profit of CAN$77 million (US$52.2 million) up from CAN$50.8 million. Annual revenue rose 19% to CAN$2.5 billion (US$1.69 billion). For the fourth quarter Molson posted a profit of CAN$38.1 million. Molson said that its market share for the fiscal year increased to 45.1% from 45.0% to 20..

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