Anheuser-Busch InBev CFO Felipe Dutra

Anheuser-Busch InBev announced that its longtime chief financial officer, Felipe Dutra, will be stepping down from his role after the company’s shareholder meeting on April 29.

Dutra, who has been CFO since 2005, was also AB InBev’s chief technology officer.

“Felipe’s departure is bittersweet,” chief executive officer Carlos Brito said in a statement. “For nearly 30 years, he has been a champion of our company and a fantastic partner to me.”

Dutra will be replaced by Fernando Tennenbaum. A 15-year veteran of the company, Tennenbaum currently serves as vice president AB InBev’s South America division as well as CFO of its Brazilian subsidiary, Ambev. Tennenbaum will also join the company’s executive committee.

Dutra’s departure was one of a several of executive moves the brewer announced Thursday.

AB InBev named David Almeida, chief people and strategy officer, to replace Dutra as chief technology officer. Nelson Jamel was named chief people officer.

Scott Gray, who most recently served as vice president of global treasury and risk management at AB InBev, was named CFO at the tea and coffee company JDE Peet’s, effective February 24.

Edward Mundy, an analyst at Jefferies, said the executive moves would aid potential succession planning and that they “argued against” any major merger-and-acquisition activity in the near term.

AB InBev said the moves were part of “a well-established succession plan.”

In a statement, Brito said Tennenbaum’s mandate would be to “ensure AB InBev continues to invest behind the organic growth of the business while deleveraging toward the optimal capital structure.”

The company took on more than $100 billion in debt following its 2016 acquisition of SABMiller. In September it raised about $5 billion through an initial public offering of its Asia-Pacific unit. It canceled plans for a bigger IPO in Hong Kong in July amid protests in that city.

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