Diageo, the world’s biggest producer of alcoholic drinks, picked chief operating officer Ivan Menezes as its new chief executive on Tuesday, after Paul Walsh announced his retirement after almost 13 years at the helm.
Menezes, 53, who has been chief operating officer since March last year, will replace Walsh, 58, from the beginning of July, Diageo revealed in a statement.
“Diageo has today announced that Ivan Menezes will be appointed chief executive of Diageo with effect from 1 July this year,” the British brewing giant said.
“Paul Walsh, who will step down from the board at the September this year annual general meeting, will retire from the company on 30 June next year.
“In the last 12 months he will focus on transitioning critical partner and external relationships to Ivan.”
Diageo’s key products include Baileys liqueur, Captain Morgan rum, Guinness stout, Johnnie Walker whisky, Smirnoff vodka and Tanqueray gin. Almost 40 per cent of Diageo’s business is in emerging markets.
