Heineken has appointed Rafael Oliveira, the current chief executive of JDE Peet’s, as its next chief executive officer, marking the first time the Dutch brewer has chosen an external candidate to head the company in its 87-year public history. Oliveira, a Brazilian-British executive with extensive experience in consumer goods and capital markets, will take over the role in October for a four-year term, succeeding Dolf van den Brink, who stepped down earlier this year after six years in the position.

The appointment comes as Heineken faces challenges including declining beer consumption, inflationary pressures, and a 30 percent drop in its share price over the past five years, underperforming rivals such as Anheuser-Busch InBev and Carlsberg. The brewer has been undertaking cost-cutting measures, including plans to reduce its global workforce by approximately 7 percent—around 6,000 jobs—and consolidating European breweries and back-office operations in smaller markets.

Oliveira’s selection followed a comprehensive global search and was unanimous among the supervisory board, which highlighted his blend of strategic vision, operational expertise, and financial acumen. The De Carvalho-Heineken family, which controls a majority stake and holds a majority of board seats, emphasized Oliveira’s record of translating strategy into disciplined execution and strong leadership as key factors in the decision.

Prior to leading JDE Peet’s, Oliveira spent a decade at Goldman Sachs and held senior positions at Kraft Heinz, including head of international markets. At JDE Peet’s, he was credited with driving profit growth and revitalizing the organization. This background is viewed by analysts as beneficial for Heineken, particularly given the evolving consumer landscape and investor demands for improved capital returns.

While Oliveira will continue to implement Heineken’s existing 2030 strategy—focused on achieving higher growth with fewer resources—industry observers anticipate he will bring sharper execution discipline, reevaluate portfolio choices, and enhance engagement with capital markets. Analysts generally do not expect a complete overhaul of the company’s strategic direction but note the importance of fresh leadership amid a period of transition.

Heineken's shares responded positively to the announcement, rising around 2 to 2.6 percent in Amsterdam. The brewer, which owns well-known brands including Amstel, Moretti, Strongbow, Beavertown, and Brixton, joins other major drinks companies that recently appointed external leaders to infuse new energy, such as Diageo and Rémy Cointreau.

Oliveira inherits a company in transformation, tasked with reviving beer sales while managing structural changes and lingering uncertainty following van den Brink’s unexpected exit earlier this year. The new CEO’s challenge will be to steer Heineken through these headwinds while delivering value to shareholders and sustaining its position as the world’s second-largest brewer.