World: Molson Coors names insider Rahul Goyal as new CEO
Molson Coors named insider Rahul Goyal as its CEO on September 22, to succeed Gavin Hattersley who retires this year, as the beer maker battles weakening demand and tariffs in the United States, Yahoo Finance reported.
Goyal, currently chief strategy officer at the Coors Light maker, is set to assume the role on October 1. He has been with the company for more than two decades, having served in roles including finance chief for the company in India.
The new CEO will be tasked with steering the company at a tough time for the industry, with alcohol consumption among American adults falling to its lowest level on record.
"Few executives know Molson Coors better than Rahul Goyal. His cross-company experience and role in pushing the brewer beyond beer position him to meet fast-changing consumer demands," said EMarketer analyst Zak Stambor.
"But with many consumers turning away from beer and alcohol altogether, guiding the company's path forward won't be easy."
Demand for alcohol in the U.S. also remains uncertain, as discretionary spending among consumers is pressured due to inflation and tariff-driven uncertainty.
The beer maker had forecast a drop in its annual profit in August, anticipating tariff impacts from the cost of aluminum it uses for its beverage cans. Aluminum imports have been slapped with a 50% duty, driving up U.S. Midwest aluminum premium prices.
Molson Coors had announced Hattersley's retirement in April following a six-year stint at the top job. He will remain in an advisory role until the end of 2025, the company said on Monday.
Shares of the company were down about 1% in early trading.
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