 Heineken's profits have been hit by falling sales |
Dutch brewer Heineken has said it is to part company with its chief executive Anthony Ruys. The company said Mr Ruys will leave on 1 October as part of a management shake-up. He will be replaced by fellow board member Jean-Francois van Boxmeer.
Dutch newspapers have speculated that Mr Ruys is paying the price for the firm's recent poor performance.
Heineken said in February that annual profits had fallen by 33% and warned that its 2005 earnings may also slide.
Efficiencies
The Dutch media said Mr Ruys had been scheduled to leave during 2006.
He had been a Heineken board member since 1993 and chief executive since 2002.
"In order to connect functions, operations and finance in a more effective way, the company will create a new, more streamlined executive board comprising three roles instead of the current five," said Heineken.
The company is also streamlining its geographical areas of operation from six to five.
Heineken blamed its poor 2004 performance on falling demand for beer in western Europe and currency losses caused by the strength of the euro against the dollar.
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