Diageo’s CEO steps down after 10 years

Multinational alcoholic beverage company Diageo has announced that its chief executive officer Sir Ivan Menezes has decided to step down.

During Menezes’ ten years leading the company, Diageo reportedly grew significantly and now sells over 200 brands in more than 180 markets. As of today, it is the number one company by net sales value in Scotch whiskey, other spirits and beer. In December 2022, Guinness became the number one beer in the on-trade in Great Britain for the first time. 

Menezes said: “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 would also like to thank the Board for their encouragement, challenge and support over the years.”

Debra Crew, currently chief operating officer, will take over Menezes role from 1 July. She previously worked as former president and CEO of Reynolds American, spent five years as president of PepsiCo and held other positions at Kraft Foods, Nestlé and Mars. 

Throughout the years Diageo has championed women and ethnic diversity in the business and with Crew’s appointment in July more than 50% of Diageo’s executive committee will be women. 

Crew 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. It is an incredible privilege to be leading Diageo through the next phase of its development.”