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Molson Coors Names CEO, CFO

Brewer named Peter Swinburn as its new CEO and Stewart Glendinning as chief financial officer.

MONTREAL (CP) -- Molson Coors Brewing Co. Tuesday named Peter Swinburn as its new CEO and Stewart Glendinning as chief financial officer.

They replace Leo Kiely and Tim Wolf respectively, who are moving to the new U.S. joint venture MillerCoors.

The appointments are to take effect July 1, when the deal closes creating the second-largest brewer in the United States.

Molson Coors, formed by the 2005 merger of Molson Inc. and Adolph Coors Co., will own 42 per cent of MillerCoors but have 50 per cent of the voting rights at the joint venture, which will have 30 per cent of the American beer market.

Swinburn, 55, had been considered by industry observers as the heir apparent to Kiely. He currently runs Coors U.S. operations and previously headed the troubled U.K. division.

A 34-year veteran of the beer industry, the economics graduate from the University of Wales joined Coors in its 2002 acquisition of Bass U.K. and has held several senior roles in marketing, retail management and sales.

He was director of Grolsch U.K., a joint venture between Coors and Grolsch. He also served as chairman for Tradeteam, a logistics company jointly owned by Coors Brewers and DHL.

Glendinning, who joined Molson Coors in 2005, is the CFO of U.K. subsidiary Coors Brewers Ltd.

''I am honoured to have the opportunity to lead Molson Coors,'' Swinburn said in a statement. ''This is a storied and remarkable franchise, with some of its best moments to come.''

Molson Coors chairman Eric Molson said both appointees will step seamlessly into the critical roles and take the Canadian-American company to the next chapter.

''Peter has been in the beer industry for 34 years, knows every facet of our business, has experience in global markets and has a proven ability to lead successfully through times of change and growth,'' he said in a news release.