Diageo promotes COO Ivan Menezes to CEO
Ivan Menezes has been named as the new CEO of international alcoholic drinks producer Diageo, the maker of Johnny Walker, Guinness and Pimms.
Menezes has been acting as chief operating officer for Diageo since March 2012, and will make the step up from 1 July to replace Paul Walsh who will depart the board during the next Annual General Meeting in September.
Dr Franz B. Humer, Diageo's chairman, said in a statement: "Paul is an outstanding Chief Executive. He has served our business, its shareholders, employees and partners with enormous imagination and dedication over the past 13 years. I know he is justly proud of Diageo and its people and he leaves a great legacy for his successor. The Board is immensely grateful for his ambitious and thoughtful stewardship of the business and its people. The transition process which has been put in place enables Paul to contribute his knowledge and experience during Ivan's first year as CEO.
"We are delighted to have a leader of Ivan's talents and global experience to succeed Paul. The handover is being made at a time when the business is strong and Ivan takes on the role of CEO 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," added Humer.
Walsh will be tasked with "transitioning critical partner and external relationships" to Menezes in his final months with the business.
Diageo has informed The Drum that Walsh has yet to decide what his next step will be following his departure next year. He is also a non-executive director of Unilever plc, FedEx Corp and Avanti Communications, as well as a member of the board of trustees of The Prince of Wales International Business Leaders Forum and the lead non-executive director at the UK Department for Energy and Climate Change.