Dive Brief:
- MillerCoors CEO Tom Long is bidding farewell to his post come June 30. He has been in the position since June 2011.
- MillerCoors — along with Molson Coors Brewing Co., a MillerCoors parent — saw sluggish sales and down profits in its December quarter. MillerCoors profit was $218 million in Q4, shy $23 million compared to last year.
- While Long's leadership led to a profits uptick, the company "failed to reverse declining volumes for its top-selling beers, Coors Light and Miller Lite."
Dive Insight:
"Under Tom’s leadership, the company consistently delivered profit growth, pricing growth and cost savings, while dramatically improving capabilities in key areas like innovation, chain sales, revenue management, learning and development, and beer knowledge and appreciation," according to a statement from MillerCoors chairman Pete Coors.
The search is underway for the next company head. As MillerCoors has seen its struggles, could this next person make a list next year on CEOs in tough spots?