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Molson Coors to lose CEO Gavin Hattersley by the end of 2025 after transformational run and record $11.6 billion revenue milestone

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  • Molson Coors CEO Gavin Hattersley plans to retire by the end of 2025 after a transformational tenure marked by record financial performance and strategic diversification beyond brewing. The company says it has launched a formal search for his successor.

Gavin Hattersley, the long-serving CEO of Molson Coors, has announced his intention to retire by the end of 2025, capping off a tenure that saw the Coors and Blue Moon maker achieve record financial performance and expand beyond its traditional brewing roots.

The company’s board has begun a formal search for his successor, considering both internal and external candidates. The search will be overseen by the board’s Governance Committee as part of Molson Coors’ existing succession planning process.

Hattersley, who joined the company in 2002 following SABMiller’s acquisition of Miller Brewing, has been at the helm of Molson Coors since 2019.

How Hattersley transformed Molson Coors

During his tenure, Molson Coors launched a strategic “revitalization plan” to return the business to growth, followed by an “acceleration plan” that expanded its premium portfolio, helped it reduce net debt by nearly 40% since the end of 2019, and reach annual net sales revenue of $11.6 billion.

Under his leadership, the company formed new partnerships—including a joint venture with Yuengling and new U.S. commercialization rights to Fever-Tree—and entered markets beyond beer, with launches in hard seltzers, ready-to-drink cocktails, spirits, and mixers.

“He’s put our company on a path to an even brighter future,” said David Coors, vice chair of the board.

The company also delivered two consecutive years of record revenue and earnings under Hattersley’s leadership.

In Q4 2024 alone, Molson Coors exceeded expectations with $2.74 billion in revenue and an earnings-per-share of $1.30, beating forecasts of $2.71 billion and $1.13 per share, respectively.

Molson Coors’ stock is currently up 5.75% year to date at the time of writing.

“Gavin has been a steady hand at the wheel as CEO, navigating through incredible challenges while guiding our company to growth,” said Chairman Geoff Molson. “He leaves behind a stronger foundation and a brighter future for Molson Coors.”

Molson Coors will release its Q1 2025 earnings on April 29, providing further insights into the company’s trajectory as it transitions to new leadership.

This story was originally featured on Fortune.com



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Detroit’s eastside is being turned into a forest of sequoias native to California—the world’s largest trees

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Arborists are turning vacant land on Detroit’s eastside into a small urban forest, not of elms, oaks and red maples indigenous to the city but giant sequoias, the world’s largest trees that can live for thousands of years.

The project on four lots will not only replace long-standing blight with majestic trees, but could also improve air quality and help preserve the trees that are native to California’s Sierra Nevada, where they are threatened by ever-hotter wildfires.

Detroit is the pilot city for the Giant Sequoia Filter Forest. The nonprofit Archangel Ancient Tree Archive is donating dozens of sequoia saplings that will be planted by staff and volunteers from Arboretum Detroit, another nonprofit, to mark Earth Day on April 22.

Co-founder David Milarch says Archangel also plans to plant sequoias in Los Angeles, Oakland, California, and London.

What are giant sequoias?

The massive conifers can grow to more than 300 feet (90 meters) tall with a more than 30-foot (9-meter) circumference at the base. They can live for more than 3,000 years.

“Here’s a tree that is bigger than your house when it’s mature, taller than your buildings, and lives longer than you can comprehend,” said Andrew “Birch” Kemp, Arboretum Detroit’s executive director.

The sequoias will eventually provide a full canopy that protects everything beneath, he said.

“It may be sad to call these .5- and 1-acre treescapes forests,” Kemp said. “We are expanding on this and shading our neighborhood in the only way possible, planting lots of trees.”

Giant sequoias are resilient against disease and insects, and are usually well-adapted to fire. Thick bark protects their trunks and their canopies tend to be too high for flames to reach. But climate change is making the big trees more vulnerable to wildfires out West, Kemp said.

“The fires are getting so hot that its even threatening them,” he said.

Descendants of Stagg and Waterfall

Archangel, based in Copemish, Michigan, preserves the genetics of old-growth trees for research and reforestation.

The sequoia saplings destined for Detroit are clones of two giants known as Stagg — the world’s fifth-largest tree — and Waterfall, of the Alder Creek grove, about 150 miles (240 kilometers) north of Los Angeles.

In 2010, Archangel began gathering cones and climbers scaled high into the trees to gather new-growth clippings from which they were able to develop and grow saplings.

A decade later, a wildfire burned through the grove. Waterfall was destroyed but Stagg survived. They will both live on in the Motor City.

Why Detroit?

Sequoias need space, and metropolitan Detroit has plenty of it.

In the 1950s, 1.8 million people called Detroit home, but the city’s population has since shrunk to about one-third of that number. Tens of thousands of homes were left empty and neglected.

While the city has demolished at least 24,000 vacant structures since it emerged from bankruptcy in 2014, thousands of empty lots remain. Kemp estimates that only about 10-15% of the original houses remain in the neighborhood where the sequoias will grow.

“There’s not another urban area I know of that has the kind of potential that we do to reforest,” he said. “We could all live in shady, fresh air beauty. It’s like no reason we can’t be the greenest city in the world.”

Within the last decade, 11 sequoias were planted on vacant lots owned by Arboretum Detroit and nine others were planted on private properties around the neighborhood. Each now reaches 12 to 15 feet (3.6 to 4.5 meters) tall. Arboretum Detroit has another 200 in its nursery. Kemp believes the trees will thrive in Detroit.

“They’re safer here … we don’t have wildfires like (California). The soil stays pretty moist, even in the summer,” he said. “They like to have that winter irrigation, so when the snow melts they can get a good drink.”

How will the sequoias impact Detroit?

Caring for the sequoias will fall to future generations, so Milarch has instigated what he calls “tree school” to teach Detroit’s youth how and why to look after the new trees.

“We empower our kids to teach them how to do this and give them the materials and the way to do this themselves,” Milarch said. “They take ownership. They grow them in the classrooms and plant them around the schools. They know we’re in environmental trouble.”

Some of them may never have even walked in a forest, Kemp said.

“How can we expect children who have never seen a forest to care about deforestation on the other side of the world?” Kemp said. “It is our responsibility to offer them their birthright.”

City residents are exposed to extreme air pollution and have high rates of asthma. The Detroit sequoias will grow near a heavily industrial area, a former incinerator and two interstates, he said.

Kemp’s nonprofit has already planted about 650 trees — comprising around 80 species — in some 40 lots in the area. But he believes the sequoias will have the greatest impact.

“Because these trees grow so fast, so large and they’re evergreen they’ll do amazing work filtering the air here,” Kemp said. “We live in pretty much a pollution hot spot. We’re trying to combat that. We’re trying to breathe clean air. We’re trying to create shade. We’re trying to soak up the stormwater, and I think sequoias — among all the trees we plant — may be the strongest, best candidates for that.”

This story was originally featured on Fortune.com



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The U.S. slaps even more tariffs on Southeast Asia, as solar panels get anti-dumping duties that go as high as 3,521%

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If you think a 25% tariff is bad, what about a tariff that goes past 3,500%?

On Monday, the U.S. Department of Commerce slapped high tariffs on solar panels and their related products coming from four Southeast Asia countries, Malaysia, Vietnam, Thailand, and Cambodia, accusing manufacturers there of dumping products on the U.S. market. The announcement ends a yearlong trade probe initiated under the Biden administration. 

Tariff levels varied wildly between different countries and manufacturers. Solar cells made in Malaysia by Korean company Hanwha only got a tariff of 14.64%, the lowest imposed.

In contrast, four manufacturers in Cambodia—Hounen Solar, Jinktek Photovoltaic, ISC Cambodia and Solar Long PV Tech—got tariffs of 3521.14%. The Southeast Asian country stopped cooperating with the U.S. probe, leading to such high penalties. 

The U.S. International Trade Commission will make a final determination on tariff rates on June 2.

U.S. solar manufacturers, as well as foreign companies that invested in U.S. based manufacturing, lobbied for anti-dumping tariffs on Southeast Asian manufacturers, accusing them of pricing their products below production cost. The American Alliance for Solar Manufacturing Trade Committee also argued that Southeast Asian companies received an unfair level of subsidies, making the U.S.-made solar panels uncompetitive. 

Chinese-owned solar manufacturing facilities have popped up across Southeast Asia as companies sought to navigate U.S.-China trade frictions.

While Cambodia is still primarily an agrarian economy, solar panels were the Southeast Asian country’s top export to the U.S. last year, according to data from the consultancy Oxford Economics.

In total, the U.S. imported $12.9 billion worth of solar equipment from the four countries targeted by Monday’s tariffs, representing about 77% of module imports according to Bloomberg data.

In a statement on Monday, the Alliance called the Commerce Department’s final tariff recommendation a “decisive victory” for American manufacturing.

“Enforcing our trade laws isn’t just a legal matter—it’s essential to rebuilding our industrial base, securing our energy independence and protecting American jobs,” Tim Brightbill, co-chair of Wiley’s International Trade Practice and lead counsel to the group, said in a statement.

This story was originally featured on Fortune.com



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Parents hit back at RFK Jr.’s claim that ‘autism destroys families’

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