Diageo chief executive Ivan Menezes is to step down at the end of June as he retires after 10 years of running the global drinks company.
In a statement, the Guinness owner said he would be replaced by chief operating officer Debra Crew, who will also join the board.
Mr Menezes joined Diageo following the merger of Guinness and Grand Metropolitan in 1997, and has held a number of senior positions at the company. He was appointed as executive director of Diageo in July 2012, and took up the role of chief executive in July 2013.
“It has been an enormous honour leading Diageo over the past decade,” he said. “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.”
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Ms Crew has served as chief operating officer since October 2022. Prior to that, she was president of Diageo North America and Global Supply.
“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,” she said. “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.”
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