Diageo has announced Ivan Menezes has decided to retire as CEO on 30 June 2023 after 10 years running the spirits giant, to be replaced by current chief operating officer Debra Crew.
Menezes joined Diageo through the merger of Guinness and Grand Metropolitan in 1997 and has held a number of senior positions in the business including COO, president of North America; and chairman of Asia Pacific and Latin America and Caribbean.
He has been an executive director of Diageo since July 2012 and has served as CEO since July 2013, overseeing an “outstanding period of change, growth and high performance”.
In January 2023, Menezes was awarded a knighthood for services to business and to equality in the King’s 2023 New Year Honours List.
Prior to being appointed COO in October 2022, Debra Crew was president, Diageo North America and global supply, leading Diageo’s largest market to 14% organic net sales growth in 2022, following on from 20% organic net sales growth in the prior year.
She originally joined the Diageo board as a non-executive director in April 2019, before stepping down from the board when appointed to run its North American business in July 2020.
She is the former president and CEO of Reynolds American and previously spent five years at PepsiCo as well as holding positions with Kraft Foods, Nestlé and Mars.
Javier Ferrán, chairman, Diageo, commented: “The Board is enormously grateful for Ivan’s contribution over the past decade. Under his stewardship, Diageo has consistently delivered a truly impressive performance to become one of the most respected businesses in the world.
“Ivan has transformed Diageo’s global footprint, brand portfolio and strategic focus, positioning our business as a clear leader in premium drinks. At the same time as delivering consistent shareholder returns, Ivan has nurtured a diverse and talented global workforce and made significant progress on the most material sustainability issues facing our business. Ivan leaves Diageo extremely well positioned for future growth, and we thank him again for everything he has helped us to achieve.
“The Board has diligently planned for Ivan’s successor, and we are delighted to have appointed a leader of Debra’s calibre to the role. Debra has been a highly valued member of Diageo’s leadership team in recent years with an impressive track record of delivery both at Diageo and across other global consumer goods companies. She has deep consumer industry expertise as well as proven strategic capabilities, strong operational performance and a clear ability to build and lead teams. I have no doubt that Diageo is in the right hands for the next phase of its growth.”
Menezes added: “It has been an enormous honour leading Diageo over the past decade. I am extremely proud of what we have achieved during that time, and I would like to thank my 28,000 talented colleagues around the world for all of their hard work, creativity and passion.
“I am delighted to be handing over the reins to Debra. I am confident that under Debra’s leadership, and with our extraordinary portfolio of brands and culture, Diageo will go on to deliver our long-term performance ambition.”
Crew commented: “Ivan leaves Diageo in a very strong position for future growth and I look forward to working with our teams around the world to capture the opportunities ahead.
“I am focused on continuing Diageo’s extraordinary track record of building world-leading brands and enhancing our reputation as one of the most responsible businesses in what I believe to be the most exciting consumer products category. It is an incredible privilege to be leading Diageo through the next phase of its development.”
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