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July 07, 2015 12:03 PM ET

Beverages

Company Overview of MillerCoors LLC

Company Overview

MillerCoors LLC, along with its subsidiaries, engages in brewing, marketing, and selling a portfolio of crafted beers, and pear and apple ciders in the United States and Puerto Rico. The company also imports and distributes beers. It sells its products through its online merchandise stores, as well as brewery shops. The company was founded in 2008 and is headquartered in Chicago, Illinois with additional offices in Golden, Colorado; and Milwaukee, Wisconsin. It has breweries in Albany, Georgia; Eden, North Carolina; Fort Worth, Texas; Golden, Colorado; Irwindale, California; Chippewa Falls, Milwaukee, and Watertown, Wisconsin; Elkton, Virginia; and Trenton, Ohio. MillerCoors LLC operates as ...

250 South Wacker Drive

Chicago, IL 60606

United States

Founded in 2008

Phone:

414-277-5000

Fax:

414-271-3552

Key Executives for MillerCoors LLC

Interim Chief Executive Officer and Director
Age: 52
Chief Financial Officer
President of Tenth and Blake Beer Company
Age: 60
Chief Integrated Supply Chain Officer and Executive Vice President
Age: 55
Chief Business Transformation Officer
Compensation as of Fiscal Year 2015.

MillerCoors LLC Key Developments

MillerCoors LLC Announces Executive Changes

MillerCoors LLC has replaced its chief marketing officer and chief of sales in an attempt to sell more Miller Lite, Redd's Apple Ale and its other brands after five years of decline reduced its annual sales by seven million barrels. The action will be led by David Kroll, who moves up to replace Andy England as chief marketing officer, responsible for shaping the sales pitch for Miller High Life, Coors Light and Leinenkugel's Summer Shandy. England was the joint venture's first marketing officer, hired seven years ago. Kroll previously served as the MillerCoors vice president of innovation and led the commercial operations for Dyson Ltd. before joining the brewing company. Kevin Doyle replaces Ed McBrien as president of sales and distributor operations. Doyle started working for Miller Brewing Co. in 1983 and was most recently the chief commercial solutions officer.

MillerCoors Announces Management Changes

The Board of Directors of MillerCoors named Gavin Hattersley to the role of interim Chief Executive Officer to lead the business when current CEO Tom Long retires on June 30, 2015. Hattersley, 52, currently Chief Financial Officer (CFO) 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. Hattersley will continue as CFO of Molson Coors while serving as interim head of the US business. 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.

MillerCoors LLC Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Reports Production Results for the First Quarter Ended March 31, 2015

MillerCoors LLC reported unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales of $1,774.6 million against $1,790.4 million a year ago. Operating income was $309.3 million against $297.5 million a year ago. Income before income taxes and non-controlling interests was $310.3 million against $297.5 million a year ago. Net income attributable to the company was $304.6 million against $291.2 million a year ago. Non-GAAP underlying net income was $304.6 million against $291.9 million a year ago. The company reported underlying earnings before interest, taxes and amortization before exceptional items (EBITA) of $345.2 million against $319.4 million a year ago. This income growth was driven by higher net pricing, positive sales mix and strong cost control. Additions to tangible and intangible assets totaled $76.3 million. The company reported production results for the first quarter ended March 31, 2015. For the quarter, total company net revenue per barrel, including contract brewing and company-owned distributor sales, increased 1.5%. Third-party contract brewing volumes were down 1.0%.

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