Dive Brief:
- Heineken CEO and Chairman Dolf van den Brink is leaving the company at the end of May following a nearly six-year run as top executive. His departure comes three months after the beer giant announced an expansive reorganization plan.
- The Heineken board is initiating a search for a successor, according to a news release. Van den Brink will remain with the company in an advisory capacity for eight months starting June 1.
- The company credited Van den Brink with guiding the company through “turbulent economic and political times,” as well as establishing Heineken’s five-year corporate restructuring plan to combat declining beer sales.
Dive Insight:
Van den Brink’s transition out of the CEO role comes as Heineken works to reposition itself amid a prolonged slump in the beer market. In October, it announced plans to cut 400 jobs as part of a restructuring at its global headquarters in Amsterdam, saying the move was necessary to keep up with “a dynamic beer market.”
As the plan progresses, Van den Brink said the company’s transformation “has now reached a stage where a transition in leadership will best serve” Heineken’s future ambitions.
“Over the coming months, I remain fully focused on disciplined execution of our strategy and to ensure a smooth transition,” Van den Brink said in the release.
Prior to his time as CEO, Van den Brink spent more than 28 years at Heineken, including as president and CEO of the U.S. and Mexico. He was also president of the Asia Pacific Region, according to LinkedIn.
Following the announcement of Van den Brink’s departure, stock in Heineken fell 4%.
Part of Heineken’s corporate restructuring involves scaling its Heineken Business Services unit, which provides services to its operating companies. It’s also creating a multiyear digital backbone program to change how the brewer operates in 70 markets..
Heineken, which also owns Tecate and Dos Equis, posted flat revenue in its third quarter, reported in October. Beer volumes decreased by more than 4%.
