Commendable growth

Hans Essaadi leaves Heineken Malaysia in good shape

WHEN Hans Essaadi was appointed managing director of Heineken Malaysia Bhd (formerly Guinness Anchor Bhd) back in March 2013, he had a legacy to match up to.

His predecessor Charles Ireland, who helmed the company for nearly six years, had steered Heineken Malaysia’s growth trajectory with consecutive revenue, profit, and volume growth.

Revenue growth from financial years 2006 (FY06) to FY13 was up 71.8% at RM1.68bil and Heineken Malaysia’s share price soared four-fold to RM14.13 during that period.

All eyes were on Essaadi to see how he would fare.

Today, as he hands over the baton to successor Roland Bala, Heineken Malaysia’s financial results and share price growth under Essaadi’s stewardship speaks for itself.

Essaadi navigated Heineken Malaysia through the stormy waters that were new ownership structure, corporate rebranding exercise, increased competition and an excise duty hike.

Despite that and in the face of economic and political uncertainties, Essaadi raised the bar to achieve commendable growth.

The group’s topline increased by 15% to RM1.93bil (in FY17) and net profit by 24% to RM270.22mil over the past five years.

Unlock exclusive insights, analyses, and curated news on the economy on The Star Online's Business section with Starbiz Premium.