Diageo’s Ivan Menezes to step down as CEO

Diageo has announced that its chief executive officer Sir Ivan Menezes will be retiring and is set to depart from the Diageo Board on 30 June this year, following 10 years leading the company.

Debra Crew, the current chief operating officer, will be appointed as CEO and will join the board, effective 1 July 2023.  

“It has been an enormous honour leading Diageo over the past decade. I am extremely proud of what we have achieved during that time. I am delighted to be handing over the reins to Debra. In the time that we have worked together, I have been consistently impressed with her passion for growth and for building high performing teams,” Menezes said.  

Menezes joined Diageo through the merger of Guinness plc and Grand Metropolitan plc in 1997 and has held a number of senior positions in the business including COO, president of Diageo North America, chairman of Diageo Asia Pacific and Diageo Latin America and Caribbean. 

Menezes has been an executive director of Diageo since July 2012 and has served as CEO since July 2013. In January 2023, Menezes was awarded a Knighthood for services to business and equality in His Majesty The King’s 2023 New Year Honours List.

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. I am focused on continuing Diageo’s track record of building world-leading brands and enhancing our reputation as one of the most responsible businesses in what I believe to be the most exciting consumer products category. It is an incredible privilege to be leading Diageo through the next phase of its development.”

With Crew’s appointment as CEO, women will make up more than 50% of Diageo’s executive committee from 1 July 2023. 

Prior to being appointed COO in October 2022, Crew was president of Diageo North America and global supply. Crew originally joined the Diageo Board as a non-executive director in April 2019, before stepping down from the board when appointed president of Diageo North America in July 2020.