Heineken has appointed JDE Peet’s chief executive Rafael Oliveira to lead the Dutch brewer from 1 October 2026, marking the first time in its history as a public company that an external candidate has been chosen as chief executive as it seeks to revive growth in a weakening global beer market.

The appointment ends months of uncertainty at the world’s second-largest brewer following the departure of former chief executive Dolf van den Brink, who announced his resignation in January and left the company in May. Heineken said Oliveira, a Brazilian-British executive who has led JDE Peet’s since 2024, would be nominated for a four-year term at an extraordinary shareholder meeting on 5 August.

The company’s shares rose about 3 per cent following the announcement, reaching their highest level since March. Investors had been awaiting clarity on the succession process after Heineken had operated without a chief executive since the start of June.

Heineken said Oliveira would continue executing its existing EverGreen 2030 strategy, which aims to deliver higher growth while using fewer resources. The brewer is carrying out a programme to cut 6,000 jobs and is attempting to revive sales volumes against a backdrop of declining global beer demand, changing consumer habits and concerns about alcohol consumption.

Peter Wennink, chair of Heineken’s supervisory board, said: “We are delighted to welcome Rafa to Heineken. He is a dynamic, visionary leader with an exceptional track record of leading global consumer businesses and delivering transformational growth.”

Oliveira brings more than two decades of international consumer goods experience, including senior roles at Kraft Heinz and earlier work in capital markets. Before joining JDE Peet’s, he served as president of international markets at Kraft Heinz, overseeing operations across Europe, Africa, Asia-Pacific and Latin America.

Analysts cited by Reuters said Oliveira’s consumer goods and financial markets background could help improve returns for shareholders, although some questioned his lack of experience in the alcohol sector. Analysts at ING wrote that “as a beer industry and Heineken outsider, he will have a lot to prove”.

Oliveira said: “I am confident we will accelerate growth, drive productivity and future-fit Heineken, winning the hearts of consumers worldwide.”

The incoming chief executive has a significant in-tray to contend with. One of his main priorities will be satiating investors who had expressed frustration with the company's repeated failure to meet forward guidance under Van den Brink. It also remains to be seen how the appointment of Oliveira will impact the company's EverGreen Strategy 2030, unveiled last October, which focuses on increasing growth and modernising core operations.

---