Dive Brief:
- Molson Coors’ chief commercial officer is departing as the beer giant reorganizes its leadership structure under new CEO Rahul Goyal.
- Michelle St. Jacques will exit the company effective Nov. 14, according to a securities filing on Monday. Jeff Long, who previously was chief commercial enablement officer, is now Molson Coors’ chief strategy and capabilities officer.
- The changes to Molson Coors’ leadership team come as Goyal says he is moving “with urgency” to turnaround challenges in the beer segment. The organizational structure changes remove “layers and [provide] marketing, sales and commercial capabilities in the Americas with a direct line to me,” he said in a LinkedIn post.
Dive Insight:
Molson Coors is focusing on growing its iconic brands while doubling down on non-beer offerings to address a consumer shift away from alcohol. While Molson Coors has the “right priorities,” Goyal said in the LinkedIn post that the company isn’t transforming quickly enough.
“The reality is, our progress against those priorities, though meaningful, is not enough,” Goyal wrote. “We must transform faster and make changes that acknowledge the real challenges facing our business and the beer industry, and we must move with urgency.”
Goyal, who was previously Molson Coors’ chief strategy officer, took on the CEO role on Oct. 1. He succeeds Gavin Hattersley, who plans to retire later this year.
Restructuring leadership will allow for “bolder, quicker decision making through a consumer-first, customer-first mindset, with every person in our company playing their part to drive tangible results,” Goyal wrote.
The U.S. drinking rate has fallen, and beer sales have similarly been on the decline, prompting Molson Coors and some of its competitors to adopt a “beyond beer” strategy when diversifying its product lineup. In the company’s most recent earnings report in August, Molson Coors saw net sales of $3.7 billion, a 1.6% decrease year over year.
St. Jacques is leaving the company after having been with Molson Coors since 2019, then called MillerCoors. She was hired as the company’s first female chief marketing officer after working for Kraft Heinz.
