Molson Coors has named chief strategy officer Rahul Goyal as its next president and CEO.
Goyal will step up to replace Gavin Hattersley on 1 October. Hattersley will stay on in an advisory role until the end of 2025, when he will retire.
A Molson Coors insider, Goyal has worked for the brewing giant since 2001. Working his way up, he has served successively as chief information officer for Molson Coors UK and chief financial officer for its Indian business, before becoming chief strategy officer for the group in 2015.
In the role, Goyal built partnerships with The Coca-Cola Company and Fever-Tree, and led acquisitions of better-for-you energy drink brand Zoa and non-alcoholic spirits brand Naked Life.
“It was clear that Rahul brought the right experience and vision that we believe is needed to drive the next phase of growth for Molson Coors,” said board chairman David Coors. “Rahul has strong institutional knowledge given his time with the company and more importantly, he is eager to bring new thinking with a focus on future growth.”
Goyal will have a tough start at the helm, as Molson Coors faces a 3%-4% decline in constant-currency sales in FY2025, according to company forecasts.
While the company said it viewed the fall in sales as “cyclical”, the company has also been hit by the discontinuation of contract brewing arrangements in the Americas. The company has partially offset volume declines through price hikes and better product mix, it said in a statement alongside its second-quarter results.
“I recognise that we have a lot of work to do, and in the coming months I will share more on my vision for how we will drive growth and carry the legacy of this great company forward to reach new heights,” Goyal stated.
Hattersley said: “Having known and had the pleasure of working closely with Rahul during his many years with Molson Coors, I believe he is the right choice to lead the company into the future.
“He brings the same dedication that built our brands over centuries and has proven that he can deliver results, applying purpose and clarity to everything he does. I look forward to supporting Rahul as he steps into the role, bringing a fresh perspective in an increasingly complex environment.”
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