Heineken (HEIN.AS): First Take: New CEO appointment from 1st October

Research evidence excerpt

Heineken (HEIN.AS): First Take: New CEO appointment from 1st October

Equity Research

23 June 2026 | 9:33AM BST

New Heineken CEO nominated as Rafael Oliveira. Heineken’s previous CEO Dolf Olivier Nicolaï

+44(20)7774-2895 |

van Den Brink stepped down on 31 May 2026 following an announcement on 12 olivier.nicolai@gs.com

Goldman Sachs International

January, with no successor being announced at the time. Heineken has now

Aron Adamski

announced the nomination of Rafael Oliveira as new CEO effective October 1st 2026. +44(20)7774-6224 |

aron.adamski@gs.com

Focus on Cost Savings at JDE Peet’s: Rafael Oliveira is the current CEO of JDE Peet’s

Tom Hulls(based in Amsterdam) and has been appointed to run the Global Coffee Co (JDE +44(20)7774-7641 | tom.hulls@gs.com

Peet’s and KDP coffee combined company). He joined JDE Peet’s as CEO in October Goldman Sachs International

Rebecca Ayo-Adebanjo2024, and during the July 2025 Capital Markets Day he unveiled a three-phase +44(20)7552-2213 | rebecca.ayo-

strategic plan aimed at driving both efficiency and future growth. The plan centered adebanjo@gs.comGoldman Sachs International

on simplifying the portfolio and organisation, with a target of €500m in net savings. Srikar Medisetti

This was the equivalent to 5% of FY25 group sales and c.20% of the group SG&A. +1(332)245-7675 | srikar.medisetti@gs.com

Around 60% of those savings were expected to come from four simplification-led Goldman Sachs India SPL

initiatives, including SKU rationalisation and synergies. Importantly, half of the Sam Darbyshire, CFA

+44(20)7051-9112 |

productivity savings were earmarked for reinvestment into the business, including sam.darbyshire@gs.com

higher annual CapEx and increased A&P spending. However, following the bid from