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Tuesday 06th of January 2009
April 12, 2005

Dollar fall forces Heineken restructuring


by Brian Turner
IEA assessment reduces oil impact

Dutch brewing group Heineken, the fourth largest brewer in the world, is undertaking a wide-ranging management overhaul in the wake of falling profits that are blamed on the falling dollar.

The changes emphasize concerns of supervisory board members and senior executives over the company’s ability to deal swiftly with moves by the competition, particular in light of several key mergers by rival brewers.

Among other moves, Anthony Ruys, chairman and chief executive of Heineken since 2002, will leave 18 months before his scheduled retirement.

His new departure date is October 1, when he will be replaced by Jean Francois van Boxmeer, a Belgian. He will be the first non-Dutchman to lead the company.

Van Boxmeer has been with Heineken for over 20 years. Besides installing a new chief, the brewer’s executive board will be reduced from five position to three and its 36-member senior management group will be replaced by a 13-member executive committee.

Additionally, the company will replace its single-market approach with a geographically based operating system.

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Story link: Dollar fall forces Heineken restructuring


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