Diageo announced that Ivan Menezes will be appointed Chief Executive of Diageo beginning July 1, 2013.
Paul Walsh, who will step down from the Board at the September 2013 Annual General Meeting, will retire from the company on June 30, 2014. In his last 12 months, Walsh will focus on transitioning critical partner and external relationships to Menezes. These will include those relationships essential to recent acquisitions. Dr Franz B. Humer, Chairman of Diageo said, “’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. We are delighted to have a leader of Ivan’s talents and global experience to succeed Paul.”