Incoming Heineken chief receives 25 million euro share package

Rafael Oliveira, who is set to become Heineken’s new chief executive, has been granted almost 25 million euros in company shares. The share award is designed to offset bonuses and incentives he will lose as a result of leaving his current position at JDE Peet’s, the coffee and tea group.

A Heineken spokesperson confirmed, following a report by Bloomberg, that Oliveira has been awarded 346,300 shares. The shares will be released in five stages over the next five years. Based on Monday’s closing price of 71 euros per share, the package is worth nearly 25 million euros. Heineken’s stock gained more than 2 percent after the Brazilian executive was named as the company’s new CEO.

Before his move to Heineken, Oliveira stood to earn a significant bonus from JDE Peet’s, the company behind brands such as Douwe Egberts and Pickwick, in connection with its acquisition by Keurig Dr Pepper. He played a key role in the takeover as chief executive. However, the incentive was contingent on him serving out his full four-year term. Oliveira had led JDE Peet’s since November 2024.

Prior to taking the helm at JDE Peet’s in late 2024, Oliveira spent a decade at Kraft Heinz. During his time there, he advanced to the role of President of International Markets, overseeing businesses across Europe, Asia-Pacific, Africa, and Latin America with combined annual revenues exceeding 7 billion dollars.

Oliveira’s appointment marks a historic shift for Heineken, as he becomes the first CEO in the company’s history to be recruited externally. In doing so, the brewer departs from its longstanding practice of filling its top position through internal promotion.

Oliveira is scheduled to take up the role on October 1, 2026, with an initial term of four years. His appointment remains subject to shareholder approval at an extraordinary meeting on August 5. He is set to replace Dolf van den Brink, who surprised investors by announcing his departure in January before leaving the company at the end of May after six years at the helm.