Diageo chief govt Sir Ivan Menezes dies simply weeks earlier than retirement

The long-time boss of FTSE 100 agency Diageo has died simply weeks earlier than he was as a result of retire.

Sir Ivan Menezes had been in hospital for therapy of circumstances together with a abdomen ulcer, the Johnnie Walker whisky-to-Guinness stout maker had beforehand stated.

He died from problems following surgical procedure on the ulcer.

Sir Ivan was 63 and had been as a result of step down on the finish of the month following 10 years on the helm.

Diageo stated that CEO-designate, Debra Crew, would tackle the function on an interim foundation forward of her formal appointment.

Sir Ivan – an everyday visitor on Sky’s enterprise programme Ian King Live – joined Diageo in 1997 after its formation via the merger of Guinness and Grand Metropolitan.

He was the brains behind the “Keep Walking” marketing campaign for Johnnie Walker whereas head of promoting.

Under his decade-long management, Diageo grew to become the world’s largest spirits agency via a number of model acquisitions.

The agency now accounts for 10% of the UK’s complete meals and drinks exports.

Read extra:
Ian King’s tribute to Sir Ivan on information of his retirement

Diageo chairman Javier Ferrán stated of the information: “This is an incredibly sad day. Ivan was undoubtedly one of the finest leaders of his generation.

“Ivan was there on the creation of Diageo and over 25 years, formed Diageo to change into top-of-the-line performing, most trusted and revered client firms.

“I saw first-hand his steadfast commitment to our people and to creating a culture that enabled everyone to thrive.

“He invested his time and energy in people at every level of the company and saw potential that others may have overlooked. This is one of many reasons why he was beloved by our employees, past and present.

Ivan’s energy and his commitment to diversity created a truly inclusive business and enabled Diageo to have a positive impact on the communities we serve. His passion for our brands was second-to-none and in his heart, he remained the Johnnie Walker marketer from his early days. The desire to build the world’s best brands never left him.”

AJ Bell’s funding director, Russ Mould, stated that whereas the market knew Sir Ivan had been unwell, information of his passing was nonetheless a “shock”.

“Sir Ivan Menezes will be remembered for transforming Diageo’s fortunes and making it the powerhouse it is today in the spirit sector.

“He was drastically admired by the enterprise neighborhood and by traders.

“In his 10 years as chief executive, he focused on high-end brands, recognising that consumer tastes were evolving and that people were prepared to pay a premium price for a quality product.”