Heineken chief executive officer Dolf van den Brink will step down on 31 May after nearly six years leading the world's second-largest brewer through a period marked by the pandemic, surging costs and declining beer sales.

Van den Brink, who also serves as chairman of the executive board, took the helm in June 2020 during the COVID-19 pandemic. His tenure has been characterised by significant challenges including cost inflation and falling volumes that have pressured margins and disappointed investors. The Dutch brewer's shares fell almost 3 per cent following Monday's announcement.

The departure represents the latest in a series of chief executive changes at consumer goods companies following years of strain on household finances. Brewers have struggled to revive beer sales amid concerns ranging from extreme weather to the potential impact of weight-loss drugs on consumption patterns, alongside shifting drinking habits among younger consumers.

"After six years as CEO and more than 28 years at Heineken, I believe this is the right moment to transition leadership as the company prepares for the next phase of the EverGreen strategy," van den Brink said in a statement. "The past years have been marked by significant change as Heineken progressed through its transformation and has now reached a stage where a transition in leadership will best serve the company in further executing its long-term ambitions."

The company's supervisory board will now launch a search for van den Brink's successor to lead the maker of Heineken, Tiger and Amstel lagers. Van den Brink has agreed to remain available as an adviser for eight months from 1 June to ensure a smooth transition.

Peter Wennink, chairman of the supervisory board, acknowledged the demanding period van den Brink had navigated. "The supervisory board is grateful to Dolf for his leadership and long-standing commitment to Heineken, including guiding the company through a demanding period of transformation, delivering on EverGreen 2025 whilst navigating a challenging external environment," Wennink said.

The timing of van den Brink's departure follows Heineken's unveiling of its EverGreen Strategy 2030 in October, which focuses resources on select brands and markets. However, investors have expressed frustration with the company's repeated failure to meet forward guidance, whilst key markets including Nigeria and Vietnam have faced significant disruptions.

RBC Capital Markets analyst James Edwardes Jones told Reuters that van den Brink "arrived with high expectations, but Heineken has not delivered on them", adding: "Perhaps this change at the top is what Heineken needs."

The company recently announced a headquarters restructure affecting approximately 400 roles, with positions either relocating or being eliminated.

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