Heineken NV has restructured its top ranks including the departure of its CEO Tony Ruys.
Ruys retires effective Oct. 1 and will be replaced by Jean Francois van Boxmeer, a board member, according to news reports.
An analyst, Paul Hofman, quoted by Dow Jones, said that the beer maker still faces the same problems. “It’s got weak geographic operational positioning and a troublesome ownership structure,” he said.
Ruys has been on the board since 1993 and was named CEO in 2002, succeeding Karel Vuursteen.
Also named were Marc Bolland as COO and Rene Hooft Graafland as CFO.
Heineken also plans to realign its operations and markets in five operating regions: Western Europe, Central and Eastern Europe, The Americas, Africa and the Middle East and Asia-Pacific.
Mediocre earnings have prompted Heineken to commit to spending more on marketing. It hired Brad Pitt and John Travolta for its ads.
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