Anheuser-Busch InBev SA is planning to replace CFO Felipe Dutra as the company aims to revive the performance of its share price, the Financial Times reported Jan. 8, citing people familiar with the matter.
One of the sources reportedly said the Belgian brewer, which recently appointed Jean Neto as CEO, is considering external and internal candidates to succeed Dutra. Its options include Nelson Jamel, the financial head of AB InBev's North American unit.
A decision on the matter could be announced in February during the company's annual results, the person reportedly added.
A source also told the newspaper that the management change could be linked to AB InBev's performance since it bought SABMiller in 2016. The move pushed the company's debt load above $100 billion.
Meanwhile, another person familiar with the matter reportedly said Dutra could be leaving for personal reasons after serving in the role since 2005. However, a third source noted that the CFO remains to be "widely respected" in the company and there is nothing that suggests he is being replaced.
AB InBev declined to comment, the Financial Times reported, while Dutra did not respond to a request for comment.
In October 2019, S&P Global Ratings revised its outlook on the maker of Budweiser and Stella Artois to stable from negative. The company missed analysts' expectations for its third-quarter profit as price increases in South Korea and Brazil drove volume down.