Heineken boss quits as young shun beer
The boss of Heineken has stepped down from the Dutch brewing giant as it grapples with rising costs and waning demand for alcohol - particularly among the young.Dolf van den Brink said he will leave the company, which also brews Amstel and Birra Moretti, at the end of May after 28 years at the firm including almost six in charge.The brewer said he believed 'that this is the right time to hand over his responsibilities'.The departure comes as Heineken is hit by softer demand for beer and tougher global economic conditions.Russ Mould, investment director at AJ Bell, said: 'The departure of Dolf van den Brink comes at a difficult time for the alcohol industry thanks to pressure on household finances and greater moderation in drinking, particularly among younger cohorts.'Even within this context, Heineken has underperformed counterparts like AB InBev and Carlsberg in share price terms.'In that sense Van den Brink's departure is not a shock.' Heineken's departing boss Dolf van den Brink with actor Robert De NiroIn a profit warning in October, Heineken said sales volumes for 2025 were likely to be down on the previous year.Nevertheless, the group saw some brighter performances in the UK, amid strong demand for its Cruzcampo lager and Irish stout brand Murphy's.Van den Brink said: 'After six years as chief executive and more than 28 years at Heineken, I believe this is the right moment to transition leadership as the company prepares for the next phase of the EverGreen strategy.'The past years have been marked by significant change as Heineken progressed through its transformation and has now reached a stage where a transition in leadership will best serve the company in further executing its long-term ambitions.'Over the coming months, I remain fully focused on disciplined execution of our strategy and to ensure a smooth transition.'Peter Wennink, chairman of the group's supervisory board, said: 'The supervisory board is grateful to Dolf for his leadership and long-standing commitment to Heineken, including guiding the company through a demanding period of transformation, delivering on EverGreen 2025 strategy while navigating a challenging external environment.'AJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you
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Heineken boss quits as young shun beer
