Heineken has appointed a new CEO: for the first time in the company’s history, it will be led by someone who is not a brewer
23 June 21:54
Heineken’s board of directors has appointed an outside candidate as CEO for the first time, selecting Rafael Oliveira, the head of JDE Peet’s, as the brewery grapples with a decline in consumer demand for beer.
This was reported by the Financial Times, as cited by "Komersant Ukrainian".
“The Dutch group was under pressure from shareholders who demanded the appointment of an external candidate capable of taking a fresh look at the challenges facing the company, which is grappling with inflation and falling beer consumption,” the publication writes.
Heineken is controlled by the De Carvalho-Heineken family, which holds a controlling stake and occupies five of the eight seats on the holding company’s board of directors.
“In its 87 years as a public company, Heineken has never appointed a CEO who had no connection to the company, and has appointed a CEO who was not a Dutch citizen only once,” the publication writes.
Heineken’s board of directors unanimously endorsed the candidacy of Brazilian-British executive Rafael Oliveira, citing his combination of strategic vision, operational experience, and financial expertise as the reason for their choice.
Oliveira will take office in October 2026, the company announced.
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Oliveira, a Brazilian-British national, joined the coffee company JDE Peet’sas CEO in 2024 and was set to lead the new coffee giant Global Coffee Co, which is being formed as a result of Keurig Dr Pepper’s acquisition of the group as part of a €16 billion deal.
Oliveira previously headed the international markets division at Kraft Heinz, and before that spent 10 years at Goldman Sachs.
Oliveira will lead the family-controlled company Heineken for a limited four-year term, beginning this October, the board of directors announced on Tuesday.
“He will bring a fresh perspective that is expected to give Heineken new momentum,” the company added.
Heineken shares rose more than 2% at the start of trading on Tuesday.
Heineken is one of the world’s largest brewing companies, controlled by the de Carvalho-Heineken family.
The company’s portfolio includes about 300 brands, including Heineken, Amstel, Birra Moretti, Desperados, Foster’s, Newcastle Brown Ale, Sagres, Sol, Star, Strongbow, Tecate, Tiger, and others.
The company is implementing a large-scale cost-cutting program that involves reducing its global workforce by 7%, consolidating breweries in Europe, and merging administrative functions in certain markets. Despite this, Heineken’s stock has lost about 30% of its value over the past five years, and the company’s market capitalization stands at approximately €40 billion.
According to its 2025 results, Heineken’s revenue grew by 1.6% to €28.9 billion, and net profit exceeded €4.7 billion, up 4.9% year-over-year.
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