Michelle St. Jacques tapped to lead new
function as company aims to accelerate growth through greater
focus, prioritization
One week after announcing the company delivered top- and
bottom-line growth for the first time in over a decade, Molson
Coors Beverage Company (NYSE: TAP, TAP.A) (TSX: TPX.B, TPX.A) is
announcing the creation of a centralized commercial function in its
Americas business unit designed to accelerate its growth in the
years ahead.
The new function will unite multiple teams and geographies
around a single strategy, which is expected to drive clearer total
portfolio and geographic prioritization and allow the company to
scale new white spaces, brands and capabilities more quickly. The
shift will also provide an opportunity for more commercial focus
and support to Molson Coors’ non-alcohol and spirits portfolios,
which are ready to scale after several years of successful
growth.
“In 2022 we achieved top- and bottom-line growth for the first
time in a long time, and our goal is to do so consistently year
after year,” said Gavin Hattersley, President and CEO of Molson
Coors. “We’re building on what we accomplished over the past three
years, unlocking the next phase of growth for our business through
greater collaboration, faster decision making, and stronger
commercial support for our total portfolio.”
The full range of commercial operations in the U.S., Canada and
Latin America, including sales, marketing, innovation, and digital
strategy, as well as the company’s non-alcohol and liquor
portfolios, will be included in the new function’s remit. As the
company continues its transformation to a total beverage business,
moving to a centralized commercial team helps ensure the beyond
beer portfolio can fully benefit from the resources of the larger
commercial structure. A new digital team will be charged with
building a unified digital ecosystem across the Americas to support
speed, consistency, and quality of output. The innovation team will
now report directly into the larger commercial function to better
align across the Americas and drive speed of innovation in beer,
flavored beverages, non-alcohol products, liquor and more.
Michelle St. Jacques, who has served as Molson Coors’ Chief
Marketing Officer since 2019, has been appointed Chief Commercial
Officer. Her leadership has been integral to the company’s success
in strengthening iconic core brands like Coors Light through the
launch of “Made to Chill” and building a strong premium light
portfolio strategy with clear right to win paths for both Miller
Lite and Coors Light. St. Jacques has also accelerated Molson
Coors’ above premium portfolio, building into new white spaces with
successful innovations like Topo Chico Hard Seltzer and Simply
Spiked Lemonade. Canadian-born, St. Jacques’ international
commercial experience will be an asset in the new role.
“Since joining our company, Michelle has built a track record of
building brands and attacking white spaces with a consumer-first
mindset to effectively drive our business forward,” said
Hattersley. “While many know of her creativity and bold swings in
marketing, I have seen firsthand how she uses her growth and
commercial mindset to collaborate across marketing, sales and the
regions to maximize impact. In doing so, she not only demonstrated
a deep understanding of the total business, she also earned the
confidence of distributors and retailers alike. I am very happy
that she will be taking on this new role as she helps drive our
Americas business to new heights.”
“We have always been at our best when we work together and
collaborate as one commercial team. Over the past few years, we’ve
built an amazing partnership across sales and marketing,
collaborated to drive a unified approach to building our global
brands across the U.S., Canada and Latin America, and built our new
go-to-market strategies across non-alc and hard liquor,” said St.
Jacques. “With this new structure, I see a huge opportunity to go
even further, scaling our brands, innovation and digital
capabilities faster across the region and accelerating our
ambitions as a beverage company.”
St. Jacques has selected Sofia Colucci as the company’s new
Chief Marketing Officer. Colucci, who has earned a reputation for
creative excellence, joined the organization in 2017 and currently
serves as the global vice president of marketing for Miller Brands
and economy. Under her leadership, Miller Lite is now the
healthiest it has been in years, growing total category share in
the U.S. Colucci excels in her ability to balance creativity with
brand building to drive growth, evident in the launch of the Tastes
Like Miller Time global creative platform, culturally relevant
brand acts, and the recent success of Molson Coors’ first Super
Bowl ad in over 30 years.
After successfully bringing Molson Coors into new categories and
bringing brands like ZOA Energy and Five Trail whiskey to a point
where they are ready to scale, current president of emerging
growth, Pete Marino, will be leaving the business as he pursues his
next entrepreneurial venture.
“Pete and his team turned a series of firsts for our business
into emerging spaces in our portfolio, and now into scale plays in
our industry. We would not be in a position to scale our emerging
growth business if it were not for their work,” said Hattersley.
“Personally, I’ve known Pete since pretty much the day I moved to
the United States. He’s incredibly bright with a big heart and
quick wit, and I look forward to following his future success.”
“Creating a new chief commercial officer role will take our
great start in emerging growth to the next level, and I fully
support the move. Making the transition into a beverage company is
the right path for Molson Coors, and the new structure should help
provide additional commercial support that will set up our non-alc
and spirits teams for even faster growth as they move to scale,”
said Marino. “I am so proud of the partnerships we have developed
and the brands we have built. This is the right time to rethink our
structure to accelerate the growth of these emerging brands by
bringing them more fully into the broader business. I’ve always
favored entrepreneurial opportunities, whether it was starting my
own business a few years ago or bringing the emerging business to
life at Molson Coors, and this is a good time for me to step out of
the company and focus on my next entrepreneurial venture.”
The change comes after Molson Coors posted strong results in
2022, achieving top- and bottom-line growth for the first time in
over a decade. The company’s portfolio of brands also turned in
impressive results. For the first time in at least 15 years, in the
fourth quarter of 2022, Coors Light and Miller Lite’s combined U.S.
volume share exceeded Bud Light in tracked channels. In Canada,
Molson Canadian grew revenue and industry share for the full year.
The U.S. above premium portfolio gained the second-most dollar
share of all major U.S. brewers in 2022. Additionally, ZOA Energy
saw triple-digit brand volume growth in the fourth quarter as well
as the full year, with trend acceleration in the quarter.
This press release includes “forward-looking statements” within
the meaning of the U.S. federal securities laws, including
statements regarding Molson Coors’ strategy and organizational
initiatives and goals. Although Molson Coors believes that the
assumptions upon which its forward-looking statements are based are
reasonable, it can give no assurance that these assumptions will
prove to be correct. Actual events or results may differ materially
from those contained in the forward-looking statements due to
risks, uncertainties and assumptions. These factors include those
detailed in Molson Coors’ public filings with the SEC, including
its most recent Annual Report on Form 10-K. You should not place
undue reliance on forward-looking statements, which speak only as
of the date they are made. Molson Coors does not undertake to
update any forward-looking or other statements in this release,
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230228005972/en/
Rachel Dickens, (314) 452-9673
Molson Coors Canada (TSX:TPX.B)
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