Trending: Diageo's Longtime Chief Executive Ivan Menezes has Died
June 07 2023 - 5:30AM
Dow Jones News
0900 GMT- Diageo is among the most mentioned companies across
news items over the past two hours after reporting the death of
former Chief Executive Officer Ivan Menezes, according to Factiva
data. Menezes, who has died after a short illness at the age of 63,
had worked at the owner of Johnnie Walker Scotch whisky, Guinness
stout and Smirnoff vodka for more than 25 years, serving as CEO for
the past decade. He had been due to retire on June 30. Menezes is
credited with growing the drinks company significantly since he
became CEO in July 2013, with Diageo now selling around 200 brands
in more than 180 markets. Diageo Chairman Javier Ferran paid
tribute to his former colleague, saying he built an extraordinary
legacy. Menezes will be remembered for transforming Diageo's
fortunes and making it the powerhouse it is today in the spirit
sector, AJ Bell investment director Russ Mould says in a research
note. "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,"
Mould says. Dow Jones & Co. owns Factiva.
(joseph.hoppe@wsj.com)
(END) Dow Jones Newswires
June 07, 2023 05:15 ET (09:15 GMT)
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