CHICAGO -- Good news and bad news at MillerCoors.
On the Bright Side
The beer brewer has named Gavin Hattersley to the role of interim chief executive officer to lead the business when current CEO Tom Long retires June 30, 2015. Some industry watchers have said the lack of a replacement for Long, who announced his retirement in February, is a sign of unrest between the boards of directors of MillerCoors joint owners, SABMiller plc and Molson Coors Brewing Co.
The agreement to place Hattersley in the role, at least temporarily, suggests the representatives of the two parent companies have reached some common ground.
Hattersley, 52, currently chief financial officer of Molson Coors and former CFO of MillerCoors, will serve as interim CEO for up to six months until the board completes its search for a permanent successor.
“Gavin is an outstanding and trusted leader with ideal qualifications for the role. He has extensive beer-industry knowledge and experience in the U.S. and on the global stage," said Pete Coors, chairman of MillerCoors and Molson Coors. "His unique experience of having held top leadership positions with both parent companies and MillerCoors makes him the right choice to take the business forward with integrity and a strong sense of purpose.”
“Gavin is an excellent choice to lead MillerCoors," said Alan Clark, deputy chairman and CEO, SABMiller. "He has the confidence of our most important stakeholders, including employees, distributors and investors. We already have a strong leadership team in place at MillerCoors, and now we have the right interim CEO to lead us through this transition.”
Hattersley will continue as CFO of Molson Coors while serving as interim head of the U.S. business.
“Gavin is uniquely qualified to hold both roles,” said Mark Hunter, CEO, Molson Coors. “Molson Coors won’t miss a beat because we have a strong bench of leadership and a highly capable finance team that will ensure our focus on financial strategy, reporting excellence, and creating shareholder value.”
Prior to his current role, Hattersley served as executive vice president and chief financial officer for MillerCoors, where he was recognized for establishing strong financial management and commercial disciplines for the business unit. Previously, he was senior vice president, finance, for Miller Brewing Co. He came to Miller from SAB Ltd. in Johannesburg, South Africa, where he held several financial management positions before becoming CFO in 1999.
“As a board member, I have remained very close to the MillerCoors business,” said Hattersley. “MillerCoors has a wonderfully rich portfolio of brands and the passionate commitment of more than 8,000 employees, and I am ready to dive in and collaborate with MillerCoors leaders and distributor partners to grow our business.”
Dirty Laundry
Meanwhile, a former MillerCoors marketing executive and seven others were indicted Wednesday on charges of embezzling at least $7 million from the Chicago-based beer company, according to a Chicago Tribune report.
The former vice president, David Colletti, 58, of Chicago, who was charged in the 20-count indictment, was accused by MillerCoors in a civil lawsuit last year of defrauding the company.
Colletti worked for the company from 1982 to 2013, overseeing the marketing and sale of beer to restaurants and bars, according to the Tribune report, citing the indictment filed in Chicago federal court. He allegedly conspired with several others to falsely bill MillerCoors for fictitious promotional events and services and shared the payouts.
The other defendants are Roderick Groetzinger, 61, of North Carolina; Andrew Vallozzi, 53, of Florida; James Rittenberg, 72, of Chicago; Scott Darst, 68, of Las Vegas; Thomas Longhi, 57, of Florida; Francis Buonauro Jr., 72, of Florida; and Maryann Rozenberg, 57, of Wisconsin.
Colletti's attorney, Gene Murphy, told the newspaper he and his client are working with MillerCoors and the federal government to resolve the criminal and civil cases.
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