Heineken appoints Glenn Caton new President for Europe Region
NETHERLANDS – Heineken, a Dutch multinational brewing company, has announced the appointment of Glenn Caton as the new President for the European region, effective January 1, 2024.
Glenn Caton will succeed Soren Hagh who will exit the company to join UK-based distiller William Grant & Sons where he will take on the responsibilities of CEO from chairman Glenn Gordon
Caton is currently the Senior VP of Global Commerce, at Mondelez International, an American multinational confectionery, food, holding, beverage, and snack company based in Chicago.
Heineken is positive about Caton’s appointment stating, “Caton will be a great addition to the Heineken team, bringing great experience of operating across different sectors, regions and cultures.”
Dolf van den Brink, Heineken CEO and Chairman of the Executive Board, described Caton as an entrepreneurial, highly commercial, and creative leader who has demonstrated a clear ability to build highly motivated teams that drive for results and deliver change.
“He will be a great addition to Heineken and our Executive Team, and I very much look forward to working with him,” said van den Brink.
Volumes slowdown in Europe
Caton’s appointment comes at a time when the world’s second-largest brewer, has seen signs of slowdown in demand for its beer in some European markets over recent weeks
According to Heineken’s recent financial report, Beer volumes in Europe dropped by 7.6 percent in Q3 as consumers struggled to accommodate prices that have surged by 12 percent.
In Europe, where Heineken is the market leader, warm weather to an extent drove sales despite inflation, although they declined in Britain and Italy.
As a result, beer sales in Europe remain below 2019 levels unlike in other regions such as Asia-Pacific where volumes are recovering.
Heineken reported a 68% increase in its beer sales in the Asia-Pacific region in the July-Sept period, a year on from COVID-19 lockdowns, notably in its main Asian market Vietnam.
The maker of Europe’s top-selling beer Heineken, along with Sol and Tiger lagers said beer volumes rose by 8.9% on a like-for-like basis in the third quarter.
Van den Brink said, “We continue to focus on our EverGreen priorities and see a gradual improvement in our business performance, although somewhat slower than our ambition.
In half of our markets, volume trends are improving. Similarly, in just over half of our markets, we are gaining or holding market share.”
