Heineken confirmed the appointment of Brazilian executive Rafael Oliveira to the role of global CEO, marking an unprecedented decision for the company. The Dutch brewing giant, one of the world’s leaders in the sector, is looking to revitalize its leadership amid slowing demand. It is the first time in 87 years, since the company went public on the Stock Exchange, that Heineken has hired a CEO who did not come from its internal ranks.
Rafael Oliveira, aged 51, previously held the position of CEO at JDE Peet’s, a global coffee and tea company known in Brazil for the Pilão and L’Or brands. He is scheduled to take over as director of Heineken on October 1st. The brewery’s Board of Directors announced that Oliveira’s mandate will be four years, with a pre-defined duration.
Following the announcement, Heineken shares appreciated by up to 3.4% during trading on the Amsterdam Stock Exchange. The closing of the day, however, registered an increase of 2.20%.
Control of Heineken remains with the De Carvalho-Heineken family, which holds the majority stake in the company and occupies five of the eight seats on the holding company’s board. Oliveira becomes only the second professional of non-Dutch nationality to lead the company throughout its entire history.
Rafael Oliveira’s period as CEO of the Dutch JDE Peet’s was less than two years. This coffee and tea company was acquired by American conglomerate Keurig Dr Pepper in August 2025.
Through a statement, Oliveira highlighted Heineken’s strategy for 2030, which aims for more sustainable growth with less use of resources, as a robust foundation for the company’s future.
“I am convinced that we will accelerate growth, increase productivity and prepare Heineken for the future, gaining the preference of consumers globally”, declared the executive.
The Heineken brewery granted Oliveira financial compensation close to €25 million, equivalent to approximately R$150 million, through company shares. This amount was offered due to the executive’s resignation from a bonus that could be even more significant, referring to his previous position at JDE Peet’s, which would be paid as additional compensation after the completion of the purchase of the company by Keurig Dr Pepper in April.
Rafael Oliveira’s professional experience around the world
Rafael Oliveira began his career as CEO of JDE Peet’s in 2024 and was considered one of the main names to lead Global Coffee, a new company in the sector that is emerging after the acquisition of the group by Keurig Dr Pepper, in a transaction valued at €16 billion (equivalent to US$18.3 billion or R$94 billion).
Previous to JDE Peet’s, Oliveira dedicated ten years to Kraft Heinz, where he reached the position of president of international markets. In this role, he managed a portfolio that exceeded US$7 billion, covering regions such as Europe, Africa, Asia-Pacific and Latin America.
The executive also spent ten years at Goldman Sachs, serving as executive director of the securities practice in the United Kingdom and the emerging markets unit in Hong Kong. His career began in Brazil, with experience at Banco Icatu and Banco BBA-Credinstalt. Oliveira has a degree in Economics and an MBA from the University of Chicago.
Challenges and expectations with the new leadership at Heineken
Heineken’s Board of Directors unanimously approved the executive’s choice, highlighting his “unique combination of strategic vision, operational expertise and financial discernment”, according to a company statement. “It introduces a new perspective that should revitalize Heineken”, added the company.
The restructuring at the top of Heineken follows the departure of former CEO Dolf van den Brink, which occurred at the end of May, after six years in leadership and more than 28 years dedicated to the company. The company has been dealing with a lower-than-expected sales performance, reflecting the decrease in alcohol consumption and spending restrictions by consumers with more limited budgets.
In April, the company reported a decline in beer sales volume during the first quarter due to reduced demand in crucial markets in Europe and the Americas. Heineken has shown a slower recovery compared to industry rivals, such as Anheuser-Busch InBev and Carlsberg, in the post-pandemic scenario.
At another point in April, Heineken had reported a decrease in beer sales volume in the first quarter, attributing the result to low demand in important regions of Europe and the Americas. However, the company expressed optimism about beer consumption in emerging markets such as Vietnam and South Africa, driven by younger populations and growing purchasing power.
Heineken is currently executing a cost containment program that sees the layoff of approximately 7% of its workforce globally.
According to a report prepared by analysts Edward Mundy and Sebastian Hickman, from Jefferies, Oliveira has a recognized track record for “converting strategy into concrete and measurable financial results”.
“The expectation is that Oliveira’s arrival will strengthen a high-performance culture at Heineken, prioritizing simplification, a more effective allocation of resources” and the implementation of the company’s plan to achieve annual productivity savings of up to €500 million, analysts stated.
In a parallel development, Keurig Dr Pepper announced the start of a search for a new CEO for its coffee division. Pamela Patsley, chairman of KDP’s board of directors and member of the company’s nomination and governance committee, will be responsible for leading this selection process.