Diageo appoints new chief exec

Suzie Neuwirth

GLOBAL drinks giant Diageo today announced that chief operating officer Ivan Menezes has been appointed as the new chief executive, effective from 1 July 2013.

The FTSE 100 company is currently headed up by Paul Walsh, who will retire from the company on 30 June 2014.

In the interim period after Menezes’ appointment, Walsh will focus on transitioning critical relationships to Ivan, including those relating to recent acquisitions.

“We are delighted to have a leader of Ivan's talents and global experience to succeed Paul,” said chairman Dr Franz B. Humer.

“The handover is being made at a time when the business is strong and Ivan takes on the role of chief executive at an exciting stage of the company's global development.

“The board is confident that Ivan will inspire our organisation and Diageo will continue to achieve our medium-term performance objectives.”