Shares of Molson Coors Brewing Company TAP hit a 52-week high of $97.25 on Apr 4, after the company appointed a new chief financial officer (CFO) amid dismal quarterly results. Shares of Molson Coors eventually closed at $96.01 on Monday. Factor at Play On Mar 31, this global brewer appointed Mauricio Restrepo as the new chief financial officer (CFO) of the company. Restrepo, currently serving as the senior vice president and chief financial officer of Beam Suntory, Inc., will assume his position on May 2. Until that time, David Heede will be the interim CFO and will later resume his role as CFO for Molson Coors Europe. Restrepo has vast experience in the alcohol beverage industry and has served as a key member of executive leadership teams, driving finance, tax, treasury, M&A, and business development in both developed and emerging markets. With his in-depth knowledge of the Miller business internationally, we believe that Restrepo is perfect for the position. We thus expect him to leverage his extensive knowhow and experience to revive declining volumes. Molson Coors has witnessed a decline in both earnings and revenues in all the four quarters of 2015 compared with the corresponding year-ago period, despite improvement in the macro-economic scenario. This is mainly due to unfavorable foreign currency movements, lower volumes and loss of business contracts in 2015. Nevertheless, we believe that the company’s cost-savings initiatives and increased marketing investments have the potential to drive volumes. Molson Coors currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the beer industry include Heineken NV HEINY, Castle Brands Inc. ROX and Constellation Brands Inc. STZ. All these stocks hold a Zacks Rank #2 (Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MOLSON COORS-B (TAP): Free Stock Analysis Report CASTLE BRANDS (ROX): Free Stock Analysis Report CONSTELLATN BRD (STZ): Free Stock Analysis Report HEINEKEN NV (HEINY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research