(Bloomberg) -- Heineken NV named former ASML Holding NV Chief Executive Officer Peter Wennink as chairman, turning to an executive who helped make the chipmaker the most valuable technology company in Europe.
The Dutch brewer said Friday that Wennink, who is already vice-chair of the supervisory board, will succeed Jean-Marc Huet in April.
Wennink has extensive experience running ASML and holding board roles at VDL Group and Samsung Device Solutions, Heineken said.
When Wennink took over ASML more than a decade ago, it was an under-the-radar Dutch technology group that then became the world’s most advanced producer of chipmaking machines and Europe’s most valuable technology business. He handed over the reins earlier this year to Christophe Fouquet, who was already ASML’s chief business officer.
As chair of Heineken, Wennink will work closely with Chief Executive Officer Dolf van den Brink, who has been with the brewer in multiple roles since 1998.
Wennink is known for being a direct and outspoken Dutch business leader, with no hesitation in speaking his mind. He took a bold stance against US export controls on China, defending ASML’s interests even as the Dutch government was hesitant to take a firm stand.
Huet will step down at the annual meeting after 11 years on the Heineken supervisory board, including holding the role of chair since 2019.
Shares of Heineken were little changed in early trading Friday. The stock is down nearly 21% in the past 12 months.
The brewer also nominated Alexander de Carvalho as a member of the supervisory board, which it said continued the tradition of involving successive generations of the Heineken family in the company. De Carvalho has a background in finance, technology and digital transformation.
Heineken makes more than 300 brands including Amstel, Red Stripe and Sol. In October, the brewer reiterated its annual outlook and said it expects operating profit of between 4% and 8% this year. The company has been struggling with the US market, where depressed consumer spending has hit sales.
--With assistance from Thomas Hall.
(Updates with more on chairman and share price starting from fifth paragraph.)
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