Five years after entering initial takeover discussions, Diageo has finally achieved ownership of United Spirits (USL), India’s dominant spirits company.
The chief executive of Diageo has announced a series of leadership changes to build on its success in emerging markets and continue an ambition to dominate the global drinks industry.
There is a dichotomy between the global economy moving out of recession and companies experiencing slowing profits growth.
Diageo has reported a slow down in sales caused by weak emerging markets in the final six months of 2013.
God Bless America. That could have been the theme tune accompanying the announcement of Diageo’s annual results for the year to the end of June.
Diageo has announced net sales growth of 5% and an operating profit growth of 8% in its preliminary results for the year ending 30 June 2013.
Paul Walsh, the out-going chief executive of drinks giant Diageo, has been linked with the role of chairman at a FTSE 100 Index company.
“Diageo is a very fine racehorse but it can’t have two jockeys,” said chief executive of Diageo, Paul Walsh, in an exclusive interview with db.
Diageo has today announced that Ivan Menezes will replace Paul Walsh as the company’s chief executive with effect from 1 July 2013, with Walsh retiring from the company in June 2014.
Diageo has appointed Ivan Menezes to its board as an executive director, driving speculation that he is the top internal candidate to succeed current CEO, Paul Walsh.
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