Heineken CEO Dolf van den Brink is stepping down later this year after nearly six years at the helm, the Amsterdam-based brewer has announced.

The 52-year-old took up his post during the coronavirus pandemic, when the company was hit by the prolonged shutdown of cafés, bars and restaurants.

Drinks companies were also affected by rapid increases in the cost of energy and ingredients following Russia’s full-scale invasion of Ukraine in 2022.

The company’s share price on the Amsterdam stock exchange dropped by more than 3% on Monday morning, falling below €67 for the first time since October. Heineken shares were trading at €85 at the start of Van den Brink’s tenure and peaked at €104.50 in May 2023.

Last October the company announced a major restructuring of its Amsterdam headquarters, where around a quarter of the 1,750 staff will either be let go or redeployed abroad. The cuts go hand in hand with the expansion of Heineken Business Services and the opening of a new services centre in Hyderabad, India.

Van den Brink has been with the company for nearly three decades, joining in 1997 as a trainee and working his way up through the ranks.

In a statement, Heineken said he had “guided the company through turbulent economic and political times”, but after consulting the board he had decided that “this is the right time to hand over his responsibilities”.

Van den Brink will stay on at Heineken in an advisory capacity for eight months after he formally steps down on May 31. He said he would focus on “disciplined execution of our strategy and to ensure a smooth transition” in the meantime.