Molson Coors Beverage Company on Monday announced the appointment of Rahul Goyal as its next chief executive officer, effective October 1, as the global brewer faces declining beer consumption and rising input costs in its largest market, the United States. Goyal, who currently serves as chief strategy officer, will succeed Gavin Hattersley, the outgoing CEO who is set to retire at the end of the year after six years at the helm.
A veteran of more than two decades with Molson Coors, Goyal has worked across geographies and functions, including a stint as finance chief for the company’s India operations. His elevation marks a continuation of the company’s recent focus on developing non-beer categories, including flavored alcoholic beverages and energy drinks, as U.S. beer volumes shrink. According to industry estimates, alcohol consumption among American adults fell to its lowest level on record in 2024, with traditional beer brands taking the sharpest hit.
Molson Coors itself warned in August of lower annual profit, citing tariff-related headwinds on aluminum imports. The U.S. government’s decision to impose a 50% duty on foreign aluminum has pushed up Midwest premium prices, inflating packaging costs for beverage makers. With nearly all of its portfolio reliant on cans, the brewer expects margin pressure through the rest of FY25.
Analysts say Goyal’s long association with the company and his role in shaping Molson Coors’ diversification strategy position him to manage the turbulence. “Few executives know Molson Coors better than Rahul Goyal,” said Zak Stambor, analyst at eMarketer. “But with younger consumers increasingly rejecting beer and alcohol altogether, the challenge is steep.”
Hattersley will continue to serve in an advisory capacity until the end of 2025 to ensure a smooth leadership transition, the company said. Shares of Molson Coors were down about 1% in early trading on Monday following the announcement.
