MOLSON ANNOUNCES NEW NAME
By Adnews Staff
The Molson Companies Limited of Toronto has announced the company's shareholders have voted in favor of a proposed name change to Molson Inc. The announcement was made yesterday at the company's annual general meeting of shareholders. According to chairman Eric Molson, the new name is designed to reflect that Molson is now a company with a single focus on brewing. The old name reflected "our former strategy of diversification". It is no longer appropriate he added. During fiscal 1999, Molson regained full ownership of Molson Breweries and of the Molson trademarks and is no longer a conglomerate or holding company. The new management team consisting of Patrick Crowley as chief financial officer, Daniel O'Neil as chief operating officer and James Arnett as president and chief executive officer, was also announced at the meeting. Molson has recently implemented a number of initiatives to further improve performance including a full review of its advertising agency resources. The review, being conducted by senior Molson management, is scheduled to be completed by the end of August.