Belarus: Carlsberg’s Olivaria Brewery appoints new CEO

Carlsberg-controlled Olivaria Brewery in Belarus has appointed a new CEO. Denis Sherstennikov will replace Mikhail Chechenev, who decided to leave the company for personal reasons, Pivnoe Delo reported on October 8.

Carlsberg has been active in Belarus through exports from Baltika in Russia and since December 2006, also through a shareholding in the privately owned Olivaria Brewery.

According to Carlsberg website, Belarus has a current annual beer consumption of 47 litres per person.

The Olivaria Brewery in Minsk was established in 1864. It has 531 employees and a brewing capacity of 700,000 hl. Olivaria is one of the most recognised brands in Belarus with a market share of approximately 17.4%.

The European Bank for Reconstruction and Development (EBRD) had been a major shareholder in Olivaria since 2005 and was looking for an international partner to help develop the business. It now holds 21% of the shares, while the Carlsberg Group holds 67.8% of shares.

09 October, 2013