Molson Coors appoints Simon Kerry as Managing Director for Western Europe
UK – Molson Coors Beverage Company has appointed Simon Kerry as the new managing director of its Western Europe division, effective from 24 February 2025.
Kerry succeeds Phil Whitehead, who was recently promoted to president and chief executive officer of the company’s EMEA and APAC division in January 2025.
Kerry has been with Molson Coors for 13 years, previously serving as finance director for the UK and Ireland before taking on the role of EMEA and APAC chief finance officer in 2019.
His deep understanding of the company’s local and international operations played a crucial role in its financial performance and strategic direction.
Whitehead said: “He has the drive and vision required for the next stage of our journey and the continued evolution of our brand portfolio. A great leader and passionate ambassador for our wider beer and hospitality industry, I can think of no one better to take us forward from here.”
Kerry expressed enthusiasm for his new role, acknowledging the company’s resilience in overcoming economic challenges.
“What this business has achieved over the past few years, particularly coming out of the pandemic and rebuilding in a very volatile economic environment, is a testament to the passion and commitment of our people and the strength of our brands. I feel privileged to take on this role and to have the opportunity to lead this business through its next chapter,” he said.
His appointment follows the company’s latest financial results, which showed a 2 percent year-on-year decline in fourth-quarter FY24 sales, totaling US$2.73 billion.
The revenue dip was attributed to lower financial volumes and unfavorable foreign currency impacts, partially offset by favorable pricing strategies.
In the EMEA and APAC region, net sales increased by 0.4 percent, driven by positive foreign currency effects and pricing strategies.
However, the Americas segment recorded a 2.6 percent decline on both a reported and constant-currency basis.
Despite the drop in revenue, Molson Coors reported a 0.4 percent increase in gross profit, reaching US$1.04 billion. Operating income surged by 94.7 percent to US$388.1 million, pushing the operating margin to 11.9 percent.
Looking ahead, the company expects underlying earnings per share (EPS) to grow in the high single digits in 2025, with mid-single-digit underlying earnings before tax (EBT) growth on a constant-currency basis.
Depreciation and amortization costs are projected to be around US$675 million, plus or minus 5 percent, with an effective tax rate of 22-24 percent.
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