Market sources told Business Standard that Ghyka was asked to step down by the general management of Belgian InBev group, which is also planning further management changes in its Romanian subsidiary.

Eduardo Luz has been with InBev since 2006. He previously worked for business advisory company Accenture, providing consulting services for major groups, such as Carrefour, Sainsbury’s, Group Casino, and InBev.

The President of the Employers Union of Romania’s Independent Beer Producers, Vifor Versescu, said Ghyka’s resignation might have been triggered by the company’s financial results locally, below expectations of the group’s management.

InBev Romania ranks third on the domestic market, after Heineken and SAB Miller. “Investments in Romania were major, but these did not provide enough returns,” Versescu told Business Standard.

Ghyka, 36, is likely to attend to some personal business, market sources said. He worked for InBev since 1996 as Financial Controller and Marketing Manager. He was appointed General Manager in 2005.