Coors names new CEO; some execs to leave co

Modern Brewery Age,  March 21, 2005  

Tags: FINANCE, Investment, Molson Coors Brewing Co., officer, SALES

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There will be a lot of new faces at Coors Brewing Co. this year, starting at the top. Frits van Paasschen will take over March 29 as president and chief executive officer of Coors Brewing Co.'s U.S. operations, a subsidiary of Molson Coors. He will report to Molson Coors CEO Leo Kiely.

Van Paasschen was Nike's vice president and general manager for Europe, Middle East and Africa. He also launched Nike's franchise store concept.

Van Paasschen previously was a vice president at Disney Consumer Products. He has a bachelor's degree from Amherst College in Massachusetts and a master's degree in business administration from Harvard Business School.

In the wake of the merger, the company also announced that a number of executives will be leaving the company, exercising change-in-control clauses in their contracts.

From the Molson Coors Brewing Co., departures include Rob Klugman, chief strategy officer, Bob Reese, chief legal officer, Mara Swan, chief people officer, Ronald Tryggestad, chief accounting officer and Jim Fredericks, vice president of global rewards. From Coors Brewing U.S., departures include David Barnes, chief financial officer, Carl Barnhill, chief revenue officer, Kevin Holland, chief people officer, Jeff Popkin, regional vice president, sales and Olivia Thompson, vice president for corporate excellence. From Coors Brewers Ltd. in the U.K., it was announced that Katherine MacWilliams, the chief financial officer would be leaving.

"We have a great team at Molson Coors that is deep with management talent," said Leo Kiely. "Most of these departures will be staged over the next several months to ensure a smooth, orderly transition and to take the company through its key summer selling season."

Kiely said that several of the newly-vacant posts have already been filled, or will be filled shortly. Some of the departing executives have agreed to stay in their posts until a replacement is named. Ron Tryggestad, for example, said he would stay as chief accounting officer until his replacement is hired within the next few months. It was reported that the company will be recruiting from within the company and from outside sources.

"Many of these people have been with the company for a long time," Kiely said, "and have made terrific contributions to where we are today. We wish them well and we will miss them."

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