Molson Coors president and CEO Mark Hunter will retire on 27 September and will be replaced by Gavin Hattersley.

Hattersley will take charge as the new president and CEO of the company on 28 September.

Molson Coors board chairman Andrew Molson said: “After a 36-year career, with the last 30 years in the beer business, Mark Hunter indicated his desire to retire from his position as Molson Coors President and CEO to spend more time with his wife Fiona and two children.

“Leadership changes are planned for at the Board level and this is part of our succession planning process at work. He has led the company through a period of tremendous transformational change and has successfully helped more than double the size of our company.”

Hunter began his career in the beer industry in 1989 when he joined Bass Brewers and has been associated with the company since its acquisition of the UK business in 2002.

Hunter has been part of the beer business for the last three decades. He became Molson Coors president and CEO in 2015.

During his time with the company, Hunter was involved in every event, including the acquisition of UK’s Carling business in 2002, the merger of Molson and Coors in 2005, formation of its US joint venture MillerCoors in 2008, as well as acquisition of Central and Eastern European business in 2012.

He was also present during the integration of MillerCoors into Molson Coors and the acquisition of the Miller international business in 2016.

The latest announcement comes as Molson Coors publishes its second-quarter results, in which the company reported a 4.9% decline in net sales compared to the prior year.

Hattersley served as the president and CEO of MillerCoors US business unit from September 2015. He was also the interim CEO of MillerCoors from July 2015.