Molson Coors CEO Gavin Hattersley plans to retire by the end of 2025 after a transformational tenure marked by record financial performance and strategic diversification beyond brewing. The company says it has launched a formal search for his successor. Gavin Hattersley, the long-serving CEO o f Molson Coors, has announced his intention to retire by the end of 2025, capping off a tenure that saw the Coors and Blue Moon maker achieve record financial performance and expand beyond its traditional brewing roots. The company’s board has begun a formal search for his successor, considering both internal and external candidates. The search will be overseen by the board’s Governance Committee as part of Molson Coors’ existing succession planning process. Hattersley, who joined the company in 2002 following SABMiller's acquisition of Miller Brewing, has been at the helm of Molson Coors since 2019. How Hattersley transformed Molson Coors During his tenure, Molson Coors launched a strategic "revitalization plan" to return the business to growth, followed by an "acceleration plan" that expanded its premium portfolio, helped it reduce net debt by nearly 40% since the end of 2019, and reach annual net sales revenue of $11.6 billion. Under his leadership, the company formed new partnerships—including a joint venture with Yuengling and new U.S. commercialization rights to Fever-Tree—and entered markets beyond beer, with launches in hard seltzers, ready-to-drink cocktails, spirits, and mixers. “He’s put our company on a path to an even brighter future,” said David Coors, vice chair of the board. The company also delivered two consecutive years of record revenue and earnings under Hattersley’s leadership. In Q4 2024 alone, Molson Coors exceeded expectations with $2.74 billion in revenue and an earnings-per-share of $1.30, beating forecasts of $2.71 billion and $1.13 per share, respectively. Molson Coors' stock is currently up 5.75% year to date at the time of writing. “Gavin has been a steady hand at the wheel as CEO, navigating through incredible challenges while guiding our company to growth,” said Chairman Geoff Molson. “He leaves behind a stronger foundation and a brighter future for Molson Coors.” Molson Coors will release its Q1 2025 earnings on April 29, providing further insights into the company's trajectory as it transitions to new leadership. This story was originally featured on Fortune.com ...read more read less