Rishi Pardal has stepped down as the managing director and CEO of United Breweries (UBL) — the Heineken arm. A regulatory filing from UBL said Pardal tendered his resignation on February 16 and is now serving a six-month notice period.

Heineken obtained control of UBL in July 2021, following the acquisition of majority shares in UBL. Since then, UBL is integrating itself with Heineken. “With Rishi’s leadership, UBL has successfully navigated through Covid challenges and has made significant steps in integrating UBL into the Heineken Group while keeping a focus on the business,” Jacco van der Linden, president — Asia Pacific, Heineken, and a member of the UBL board, said.

“We are thankful for the leadership, and experience Rishi has brought to the company. During Rishi’s tenure, UBL has deepened the company’s bench of talented executives with a good mix of externally recruited and Heineken talented and experienced leaders. The executive team will continue to drive the business forward,’’ der Linden said.

Shares of UBL on Monday ended at Rs 1,458.60, a drop of1.13 per cent over the previous close. The company recently reported a consolidated net loss of Rs 1.81 crore for the third quarter ended December 31 on account of the impairment of assets in Tamil Nadu and Andhra Pradesh, apart from higher expenses.

It had posted a consolidated net profit of Rs 91.02crore in the same quarter last fiscal.