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Coors seeks successor for Leo Kiely.

AP--Adolph Coors Co. is searching for someone to run its U.S. beer business, a position that has been filled by president and CEO Leo Kiely since it was created in 2002, spokeswoman Laura Sankey said.

Coors wants to fill the job by the end of the year, Sankey said.

The company, based in Golden, Colo., created the U.S. beer position when it bought Carling, now the brewer's United Kingdom business, in February 2002. Although Kiely has been acting president since then, the intent has always been to fill the job permanently, Sankey said.

"We're at a point where filling it will enable Leo to focus on the strategic direction of the company on a worldwide basis," she said.

Coors' goal is to be one of the top five brewers worldwide in terms of volume, she said. The brewer currently ranks ninth.

The company's global strategy requires the existing company to expand, as well as for acquisitions to be made, Sankey said, adding the brewer doesn't have any acquisitions planned right now.

Coors already has someone in the equivalent job for the U.K. business, Goldman Sachs analyst Marc Cohen said. With the brewer continuing to expand, Kiely will need to delegate more, he said.

"Leo is doing double duty," Cohen said.

Cohen doesn't own shares, but Coors is an investment banking client of Goldman Sachs.

When asked if the person who gets the U.S. beer job would be considered for Kiely's position at some point, Sankey said that "all the talent in an organization" is considered during succession plans. Sankey didn't have any details on those plans.
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Title Annotation:Adolph Coors Co.
Publication:Modern Brewery Age
Article Type:Brief Article
Geographic Code:1USA
Date:May 17, 2004
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