(News Bulletin 247) – Diageo appointed Debra Crew, its current chief operating officer, as chief executive on Tuesday, thus favoring an internal choice to succeed Ivan Menezes.
The British spirits giant announced this morning that Menezes, its emblematic boss since 2013, had decided to step down as CEO on June 30.
During his tenure, the group experienced a period of “exceptional” growth, recalls Diageo, which resulted in a 78% surge in its share price.
Arrived within the group in 1997, during the merger between Guinness and Grand Metropolitan, Ivan Menezes had since held numerous positions of responsibility in North America and Asia before climbing all the levels to rise to the position of director. general.
His replacement, Debra Crew, took on the role of chief operating officer (COO) – or deputy chief executive – last year after leading the group’s North American branch.
She had previously been the general manager of the Reynolds American tobacco group, which notably owns the Camel brand, after stints at PepsiCo, Kraft Foods, Nestlé and Mars.
Following the announcement of his appointment and the departure of Menezes, the Diageo stock fell by 0.5% on Tuesday morning on the London Stock Exchange.
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