From Breakingviews - New Carlsberg CEO’s task: stay ahead of Heineken
on Tuesday that Chief Executive Cees 't Hart will retire after eight years at the helm. He boosted growth and cut costs, allowing the maker of Kronenbourg 1664 to raise its operating profit margin by some 3 percentage points between 2015 and 2022.
The new boss will face multiple challenges, not least how to sell the Russia business if 't Hart fails to complete the sale before his departure and grapple with soaring bottling and other costs. More importantly, a new CEO will need to take advantage of the reopening of the China and Asian market, where margins are higher than Europe. In 2022, Heineken grew revenue in its Asia-Pacific market by 70%, while Carlsberg’s sales in the region rose by 22%.
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