Molson installs new management in return to roots

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TORONTO, Ontario -- Canada's Molson brewing empire has a new president and CEO in the latest move as the company strives to return to its roots as a brewer and marketer. Company director James Arnett takes over from Norman Seagram, who was forced out of the top spot two weeks ago.

Seagram, who held the job for less than a year, was ousted by the Molson family which wants more control over day-to-day operations. Arnett, formerly a senior partner at law firm Stikeman Elliott in Toronto, joined the Molson board last summer.

After involvement in chemicals, retailing and other businesses, Molson is moving to focus on beer, where its market share has dropped over the last several years to be neck-and-neck in Canada with rival Labatt Breweries.

Along with the new leadership, four more board members and a new executive committee have been announced.

"Preserving and increasing Molson Breweries' market share in Canada (and) growing the beer business wherever there are opportunities. . . are urgent strategic priorities," said executive committee member Eric Molson.

Copyright May 1997, Crain Communications Inc.

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