Molson Coors Beverage Co. has selected Rahul Goyal , its chief strategy officer, to replace retiring CEO and President Gavin Hattersley as it looks to tap new revenue sources in a world of declining beer consumption.

The company, which relocated its corporate headquarters from Denver to Chicago in 2019 , continues to employ close to 1,500 workers at its Golden factory, which remains the nation’s largest single-site brewery. Its ties to the state started in 1872, when German immigrant Adolph Coors moved to Colorado from Illinois.

“Rahul has strong institutional knowledge given his time with the company and more importantly, he is eager to bring new thinking with a focus on future growth. The entire Board is confident that Rahul’s leadership will drive long-term results for Molson Coors

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