(Alliance News) - Diageo PLC on Tuesday announced that after 10 years in post, Chief Executive Officer Ivan Menezes has decided to retire, effective June 30.
Diageo is a London-based brewer and distiller with brands including Guinness, Baileys, Tanqueray, Johnnie Walker, Smirnoff and Captain Morgan.
The firm's Chief Operating Officer Debra Crew, will become its new CEO from July 1. Crew is the former CEO of Reynolds American Inc, after holding other senior roles at the cigarette maker. She spent five years at snacks and soft drinks maker PepsiCo where she served in positions including president of North America Nutrition.
Incoming CEO Crew said: "Ivan leaves Diageo in a very strong position for future growth and I look forward to working with our teams around the world to capture the opportunities ahead."
Diageo shares fell 0.6% to 3,561.50 pence each on Tuesday morning in London.
By Tom Budszus, Alliance News reporter
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