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CEO to Leave Coors

Aug 31, 2007 - Frits van Paasschen is stepping down as Coors Brewing Co. CEO to accept a senior executive job at a company outside the beer industry.

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Molson Coors didn't say where van Paasschen is going, and spokeswoman Kabira Hatland declined to comment further. Chief Executive Officer Leo Kiely will lead the U.S. division on an interim basis until a successor is named, the Denver-based company said today in a statement.

Van Paasschen joined Coors in March 2005 after leading Nike Inc.'s Europe and Africa group. He previously worked for Disney Consumer Products and was a consultant at Boston Consulting Group Inc. and McKinsey & Co.

Molson Coors had a 3.1 percent second-quarter volume gain in the U.S., more than the 2.3 percent increased by Anheuser-Busch.


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