Yahoo Finance Diageo chief executive Sir Ivan Menezes dies aged 63
Sir Ivan Menezes, the long-serving chief executive of drinks giant Diageo, has died at the age of 63 following a short illness.
Knighted by the King in his first New Year’s Honours list, Sir Ivan led the Guinness and Johnnie Walker maker since 2013.
The company announced on Monday that the company’s incoming chief executive Debra Crew had taken up her new post a month early after Sir Ivan suffered complications following emergency surgery for a stomach ulcer.
Johnnie Walker maker Diageo’s share price has risen by around 23pc over the last five years, helped by a rise in demand for premium spirits before and during the pandemic. Over the year to June 2022 its sales rose 21.4pc to £15.5bn.
Diageo chairman Javier Ferrán said: “This is an incredibly sad day. Ivan was undoubtedly one of the finest leaders of his generation.
“Ivan was there at the creation of Diageo and over 25 years, shaped Diageo to become one of the best performing, most trusted and respected consumer companies.
“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.
“We are truly privileged to have had the opportunity to work alongside such a thoughtful and passionate colleague and friend - a true gentleman. He has built an extraordinary legacy.
“Ivan leaves behind many friends and a beloved family, and our thoughts are particularly with his wife, Shibani and his two children, Nikhil and Rohini. On behalf of the board, executive committee and all our employees, we extend our deepest sympathies to them.”
