Diageo boss tipped for new chairman role

Paul Walsh, the chief executive of drinks giant Diageo, has been linked with the role of chairman at a FTSE 100 Index company.

Last month Walsh announced his plans to step down from his role as chief executive, and that he would leave the company in 2014.

Walsh has previously said that he would like to take on a chairmanship role at a FTSE 100 company, and had been linked with a role at consumer goods company Unilever. But newspaper reports over the weekend have linked Walsh to office and events catering giant Compass.

The role, which is currently held by Sir Roy Gardner, is one of a number of top flight vacancies that also include Lloyds Banking Group, WPP, Centrica and GlaxoSmithKline.

The Sunday Times said Mr Walsh’s expected appointment at Compass will boost its international expansion prospects as he has overseen acquisitions in Turkey, Brazil, India and China.

Ivan Menezes will take over the position of chief executive at Diageo from July 1, though Walsh, who said he will step down from the Diageo board in September, will remain for a year-long transition period.

Surrey-based Compass, which handles catering at major sporting events such as Wimbledon and the Cheltenham Gold Cup, generated profits of £1.1 billion in the year to last September.