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| Equity Market News | 19th May 2012 | |
Equity Org Headlines:Essar Energy adds 3 percent in mostly lower London energy sectorAntofagasta leads miners higher in London Hunting plc leads energy sector lower Sports Direct International leads London retailers higher Pace plc drops 40 percent on profits warning Royal Bank of Scotland leads London banks lower Royal Bank of Scotland leads banks, FTSE 100 higher in London Lloyds Banking Group drops 8 percent on first-quarter loss Lloyds shares down on PPI claims Aquarius Platinum adds 7 percent amid mostly lower mining sector |
12/04/05Heineken offsets changes against dollar lossesOn October 1 Jean Francois van Boxmeer, a Belgian, will become the first non-Dutchman to head Heineken, the fourth-largest brewer in the world. He will replace Anthony Ruys, who has been chairman and chief executive of the company since 2002. Ruys’ departure comes 18 months before his expected retirement date and is part of a complete management overhaul of the company, which has been suffering from reduced profits that are mostly the result of the falling dollar. The changes reflect an effort by the supervisory board and senior executives to improve Heineken’s ability to respond swiftly to moves by its competitors. This is a special concern in the wake of several recent mergers by the company’s competitors. Besides the installation of van Boxmeer, who has been with Heineken for over 20 years, other changes will include replacement of its 36-member senior management group with a 13-member executive committee, and a reduction of the executive board from five positions to three. The company’s single-market approach will also be replaced with the institution of a geographically-based operating system. |
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