Top boss in line to leave Diageo in good spirits

Diageo's plant at Leven's Banbeath industrial estate
Diageo's plant at Leven's Banbeath industrial estate
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BOARDROOM changes have been announced at the very top level of the firm which is Leven’s biggest employer – Diageo.

Paul Walsh, the company’s chief executive, is to leave the post at the end of June to make way for Ivan Menezes.

Mr Menezes, the current chief operating officer (COO), is set to assume control on July 1, while Mr Walsh (57), chief executive since 2000, will be supporting the transition until he retires from Diageo in June 2014.

Diageo chairman Franz B. Humer 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.

“We are delighted to have a leader of Ivan’s talents and global experience to succeed him. The handover is being made at a time when the business is strong.”

Faced with slow demand in recession-hit European economies, Diageo has been snapping up brands in emerging markets, where it aims to make around half of its turnover by 2015.

The company’s brands include Guinness and Johnnie Walker whisky.