SABMiller plc (ADR) (OTCMKTS:SBMRY) enjoyed a third consecutive quiet day as it closed at the end of the last trading session with a minor gain of 0.45% only. The volume of the day at 94,000 was much lower than the daily average of 137,000, reflecting the lack of interest in the stock at the current point of time. The stock needs to take a pause after the sharp rally in the last few weeks and so far, this sideways range has been helping the bulls as it provides structural strength. The immediate support area around $59 must be protected by the bulls to keep the upside open.
SABMiller plc (ADR)(OTCMKTS:SBMRY) has made some alterations in its senior management team to ensure that it can live up to the expectations of customers and investors. As per the reports, Philip Hodges has been appointed as the Group Director of Integrated Supply department. Apart from this change, Gavin Hattersley has been named as the new CEO of MillerCoors.
Insights of These Management Decisions
Philip Hodges, the newly appointed Group Director of SABMiller’s integrated supply department, will be a member of company’s Executive Committee, starting from December 1, 2015. Hodges will succeed Tony van Kralingen who announced retirement in April 2015. Hodges was the Senior Vice President of Integrated Supply Chain department at Mondelez Europe before joining SABMiller. He comes with a rich experience in finance, supply chain, and general management areas across Latin America, Europe and Asia.
While announcing his appointment, company’s Chief Executive Alan Clark said that Hodges’ expertise in international supply chain management and financial management. His presence will help the company touching newer heights in the coming years.
MillerCoors has been formed as a result of joint venture between SABMiller plc and Molson Coors Brewing Company. Hattersley’s appointment as the CEO of the company has been announced after the recent retirement of the former Chief Executive Tom Long. Hattersley had been serving the company as its interim CEO before he was named the CEO of the company. He’s also the Chief Financial Officer of Molson Coors.
The senior management of MillerCoors is delighted to have Hodges on board and hopes that his rich experience as a senior management official will help the company touching new heights. According to Pete Coors, Vice Chairman – Molson Coors & Chairman – MillerCoors Board of Directors, Hodges is the perfect person to lead the company. He knows what needs to be done to take the company to the next level.
Both the appointments are expected to bring financial and operational abundance in SABMiller and MillerCoors.
