Analysts say Molson CEO might make exit

Modern Brewery Age, May 17, 2004

The Canadian press is reporting that Molson Inc.'s Dan O'Neill may be on his way out as chief executive of Canada's largest brewer.

Molson's share price has tripled since O'Neill joined Molson in 1999, but his major strategic concept, a move by Molson into the Brazilian beer market, has not been successful. In March 2002, Molson paid $1.2 billion Cdn for Kaiser, Brazil's second-largest brewer. O'Neill was counting on the young demographic and low per-cap consumption of Brazil to fuel a beer boom. Instead, Brazil's beer market has been in decline.

O'Neill also took flak in Canada for closing two of Molson's seven Canadian breweries.