Molson Coors Nominates Julia M. Brown as an Independent Director to Join Its Board of Directors

Rhea-AI Summary

The Molson Coors Beverage Company (NYSE: TAP; TSX: TPX) has nominated Julia M. Brown as an independent director for election at the Annual Meeting of Stockholders on May 26, 2021. Brown, a seasoned supply chain executive, previously served as Chief Procurement Officer at Mars Wrigley, overseeing $10 billion in expenditures. The board also announced Iain Napier's retirement from board service. Chair Andrew Molson emphasized Brown's strategic leadership and unique insights for the company's growth. Brown has been recognized by various organizations for her influence in corporate America.

Positive

• Julia M. Brown's nomination is expected to bring strategic insights to the board.
• Brown's extensive experience in procurement and supply chain management could enhance operational efficiency.

Negative

• Iain Napier's retirement may raise concerns about continuity and experience on the board.

The Molson Coors Beverage Company (NYSE: TAP; TSX: TPX) board of directors today announced that Julia M. Brown has been nominated as an independent director for election at the company’s Annual Meeting of Stockholders on May 26, 2021. Brown is a seasoned supply chain and procurement executive who most recently served as the Chief Procurement Officer for Mars Wrigley. The board also announced independent director Iain Napier will not stand for re-election in accordance with the company’s retirement policy and will retire from board service at the meeting.

“We are thrilled to nominate Julia for election to our Board. She is a strategic, engaging, and transformational leader that brings a depth of experience to the boardroom,” said Andrew Molson, chair of the Molson Coors Board of Directors. “Julia’s background will offer unique insights that I believe will be invaluable to our company’s long-term success.”

Brown’s experience spans across strategic sourcing, purchasing, co-manufacturing and logistics. Prior to Mars Wrigley, Brown served as Chief Procurement Officer at Carnival Corporation, where she was responsible for strategic sourcing and supplier relationship management, overseeing nearly $10 billion in corporate expenditures. She has also served as Chief Procurement Officer at Mondelez International, Kraft Foods and The Clorox Company. She has served in purchase leadership positions at The Gillette Company, Diageo and Procter & Gamble.

“I would like to thank the Board for the opportunity to be a part of the future of Molson Coors Beverage Company and have long admired the rich history of Molson Coors,” said Brown. “It’s an exciting time to join this Board and I look forward to the continued growth of this business.”

Brown has been honored as one of the top 100 most “Influential Blacks in Corporate America” by Savoy Magazine, as being among the top 50 Women to Watch by FTSE 100, and as one of Black Enterprise’s Top 75 Most Powerful Women in Business. She currently also serves as a Director for Shutterfly and remains active in non-profit and industry association governance.

Brown earned an Honors Bachelor of Commerce from McMaster University in Hamilton, Canada.

Napier has served on Molson Coors’ Board of Directors since 2008 and has served on the Audit, Finance and Compensation and Human Resources Committee at various times during his tenure on the Board. “On behalf of the entire Board and management, I would like to warmly thank Iain for his highly appreciated services and important contributions to Molson Coors over his thirteen-year tenure as a director,” Andrew Molson said.

About Molson Coors

For over two centuries Molson Coors has been brewing beverages that unite people to celebrate all life’s moments. From Coors Light, Miller Lite, Molson Canadian, Carling, and Staropramen to Coors Banquet, Blue Moon Belgian White, Blue Moon LightSky, Vizzy, Leinenkugel’s Summer Shandy, Creemore Springs, Hop Valley and more, Molson Coors produces many beloved and iconic beer brands. While the company’s history is rooted in beer, Molson Coors offers a modern portfolio that expands beyond the beer aisle as well. The company’s commitment to raising industry standards and leaving a positive imprint on our employees, consumers, communities, and the environment is reflected in Our Imprint and our 2025 sustainability targets. To learn more about Molson Coors Beverage Company, visit molsoncoors.com, MolsonCoorsOurImprint.com or on Twitter through @MolsonCoors.

This press release is not a solicitation of proxies from holders of Class A common stock of Molson Coors Beverage Company (the “Company”) or Class A exchangeable shares of Molson Coors Canada Inc. (“MCC”). Each of the Company and MCC will provide shareholders with a proxy statement and other relevant materials in connection with the 2021 Annual Meeting of Stockholders. Any solicitation of proxies by or on behalf of the Company or MCC in connection with the 2021 Annual Meeting of Stockholders will be conducted upon and following the dissemination of the proxy statement and other materials in accordance with applicable law. We urge stockholders to read the proxy statement and any other relevant documents to be filed with the SEC when available, as such documents will contain important information. Stockholders will be able to receive the proxy statement and other relevant documents free of charge at the SEC's website at www.sec.gov or at www.molsoncoors.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210408005076/en/

FAQ

What is the significance of Julia M. Brown's nomination for Molson Coors?

Julia M. Brown's nomination is crucial as it brings fresh leadership and strategic insights, which could benefit Molson Coors' long-term success.

When will Molson Coors hold its Annual Meeting of Stockholders?

The Annual Meeting of Stockholders for Molson Coors will take place on May 26, 2021.

Who is retiring from the Molson Coors Board of Directors?

Independent director Iain Napier will not stand for re-election and will retire from board service at the upcoming annual meeting.

What are Julia M. Brown's qualifications for joining the Molson Coors Board?

Julia M. Brown has extensive experience in supply chain management, having served as Chief Procurement Officer at several large companies, including Mars Wrigley and Carnival Corporation.