Thinking outside the Box

12 February 2020 By Dasha Afanasieva Follow @dasha_reuters

Jean-Francois van Boxmeer is leaving the world’s second biggest brewer after 15 years as CEO. His legacy is a firm adept at selling pricier beers in fast growth markets like Vietnam and Mexico. With both troubled, new boss Dolf van den Brink’s issue now is whether to change tack.

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Jean-Francois van Boxmeer will step down as chief executive and chairman of Dutch brewer Heineken on June 1 after 15 years. He will be replaced by Dolf van den Brink, the head of the company’s Asia-Pacific region, the world’s second largest beer maker said on Feb. 11. Van Boxmeer has been nominated as a non-executive board member of Heineken Holding, which owns just over half of the 56 billion euro brewer.

On Feb. 12 the company said organic net revenue grew 5.6% year-on-year in 2019 to 28.5 billion euros, beating analyst consensus of 5.1%. Operating profit margin contracted 12 basis points to 16.8%. Organic operating profit grew 3.9%, in line with consensus.

In 2020, the company expects its operating profit to grow by mid-single digit on an organic basis, barring major negative macroeconomic and political developments.

Shares of Heineken rose 5.5% to 103.1 euros as of 0855 GMT on Feb. 12.

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