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☆ Diageo CEO: Premiumization is the right strategy
▼ + stars: | 2024-01-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDiageo CEO: Premiumization is the right strategyDebra Crew, CEO of the British alcoholic beverage company, says the market is not seeing "linear progression."

Persons: Premiumization, Debra Crew Organizations: Diageo

☆ Can Tequila Really Go Global? This Booze Boss Is Giving It a Shot
▼ + stars: | 2023-11-14 | by ( Saabira Chaudhuri | ) www.wsj.com time to read: 1 min

LONDON—Shortly after taking the helm at the world’s largest spirits maker, Diageo CEO Debra Crew made a bold proclamation: She plans to take tequila global. Following a surge in popularity in the U.S., tequila is on track to become the country’s largest spirit this year, an extraordinary milestone for a drink once associated mainly with sugary margaritas and eye-watering shots.

Persons: Debra Crew Organizations: Diageo Locations: U.S

☆ New Diageo Boss Bets She Can Make the World Love Tequila
▼ + stars: | 2023-11-14 | by ( Saabira Chaudhuri | ) www.wsj.com time to read: 1 min

Persons: Debra Crew Organizations: Diageo Locations: U.S

LONDON (AP) — Spirits and beer giant Diageo PLC saw billions wiped off its market value on Friday after it warned that a sharp slowdown in its business in Latin America and the Caribbean was hitting sales and potential profits. It blamed a “materially weaker” outlook in Latin America and the Caribbean as a result of “macroeconomic pressures" and customers downtrading to cheaper products. The region accounts for around 11% of Diageo's total sales. The group highlighted that it still expects an improvement in growth in North America, while its businesses in Europe and Asia Pacific witnessed “continued momentum,” though slower than the previous half-year. “It has impacted results for the region since we have stopped trading in some parts," he said.

Persons: Johnnie Walker, Morgan, “, Debra Crew, ” Sophie Lund, Yates, stockbrokers Hargreaves Lansdown Organizations: Diageo PLC, Guinness, Asia Pacific, Diageo, stoke Locations: Latin America, Caribbean, London, America, North America, Europe, Asia, Gaza

☆ AstraZeneca succession sickness demands urgent fix
▼ + stars: | 2023-09-15 | by ( Aimee Donnellan | ) www.reuters.com time to read: +3 min

LONDON, Sept 15 (Reuters Breakingviews) - Can a CEO be worth $9 billion? That’s the question posed by the 4% fall in AstraZeneca’s (AZN.L) shares following an article stating boss Pascal Soriot may soon resign. The company has played down the report, and its stock has recovered, but the episode highlights its uncertain position were 64-year-old Soriot to leave. Without a clear succession plan, investors should prepare for further swings. Small wonder investors and analysts wonder whether AstraZeneca will be able to find a successor capable of replicating his success.

Persons: Pascal Soriot, AstraZeneca’s, Ivan Menezes, Debra Crew, Soriot, Susan Galbraith, David Fredrickson, Luke Miels, Soriot’s, Neil Unmack, Streisand Neto Organizations: Reuters, Pfizer, pharma, Novartis, Sanofi, GSK, AstraZeneca, Diageo, Thomson Locations: AstraZeneca’s, Swedish

☆ BP succession fail puts spotlight on its board
▼ + stars: | 2023-09-14 | by ( George Hay | ) www.reuters.com time to read: +4 min

But the surprise departure of former leader Bernard Looney the previous day reflects poorly on the company’s board. Looney’s resignation, after failing to fully disclose details of past relationships with colleagues, appears to have caught BP by surprise. That’s embarrassing for the board, whose responsibilities include planning for succession in case something happens to the CEO. Auchincloss told staff in a brief town hall meeting on Sept. 13 that the company’s aims were unchanged. And our focus remains on performance – quarter by quarter,” Auchincloss, who was previously chief financial officer, told staff, according to a company spokesperson.

Persons: Dado Ruvic, Murray Auchincloss, Helge Lund, Bernard Looney, Debra Crew, Ivan Menezes, Looney, John Browne’s, Browne, Tony Hayward, Hayward, Lund, Bernard Looney’s, Auchincloss, hasn’t, ” Auchincloss, Peter Thal Larsen, Oliver Taslic Organizations: REUTERS, Reuters, Interim, Diageo, BP, Irish, Thomson Locations: British

LONDON, Aug 1 (Reuters) - Tanqueray gin maker Diageo (DGE.L) narrowly beat full-year earnings estimates on Tuesday as sales of its more expensive liquor brands offset lower volumes. Diageo's most expensive brands accounted for 57% of its overall organic net sales growth, it said. Diageo said full-year sales were driven by a strong first half. Diageo said its organic net sales increase reflected gains of 7.3 percentage points from higher prices and a more premium mix while organic sales volumes fell 0.8%. Diageo's organic operating profit rose 7%, beating the 6.3% expected by analysts.

Persons: Bourbon, Don Julio, lockdowns, Johnnie Walker, Morgan's, Tineke Frikkee, Debra Crew, Ivan Menezes, Diageo, Richa Naidu, Louise Heavens, Jason Neely Organizations: Diageo, Waverton Investment Management, Thomson

☆ Diageo CEO says consumers are continuing to spend despite a difficult macro environment
▼ + stars: | 2023-08-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDiageo CEO says consumers are continuing to spend despite a difficult macro environmentDebra Crew, CEO of Diageo, discusses Diageo's earnings and why demand for beverages has not dropped.

Persons: Crew Organizations: Diageo

☆ US stocks are in the firing line if China’s economy stalls further
▼ + stars: | 2023-06-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Recent data shows that China is also contending with worse-than-expected consumer spending, slowing manufacturing and weak home sales. What it means for markets: US-based companies doing business in China stand to lose if the economy continues on a downward trajectory. Qualcomm (QCOM), with a 67% exposure rate to China, issued disappointing forward guidance during earnings last month, citing China’s slow recovery. JD.com (JD), one of the largest Chinese companies trading in the United States, has fallen by nearly 36% this year. The air purifier market is poised to grow as climate change increases air pollution and exacerbates breathing difficulties.

Persons: That’s, China —, Capvision, China Nicholas Burns, ”, Goldman Sachs, Dow, JD.com, Morgan Stanley, Goldman, Ayaz Ebrahim, CARR, Johnson, Ivan Menezes, Diageo, Menezes ’, Menezes, King Charles III, Debra Crew, Johnnie Walker, Ivan, Javier Ferrán, “ Ivan Organizations: CNN Business, Bell, New York CNN, International Monetary Fund, Factories, Bain, Group, Micron Technology, Nasdaq, Apple, Intel, Starbucks, Nike, Bank of America, Las, Qualcomm, Nvidia, Wynn Resorts, WYNN, MGM Resorts, MGM, China . Companies, Dragon, Goldman Sachs Group, Nomura, Barclays, JPMorgan, Asia Pacific, Bloomberg, Google, Carrier Global, Johnson Controls, Economic Co, Diageo, India, Business, ”, Whisky Association, Northwestern University’s Kellogg School of Management Locations: New York, China, Washington, Beijing, United States, Hong Kong, Dragon China, Canada, Pune, India

☆ Diageo's long-time boss Ivan Menezes dies after brief illness
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +2 min

June 7 (Reuters) - Diageo (DGE.L) on Wednesday said long-time boss Ivan Menezes, who held the CEO role at the world's biggest spirits company for 10 years, had died after a brief illness. The 63-year-old, who was set to retire at the end of this month, was in hospital receiving treatment for conditions including a stomach ulcer, the Johnnie Walker whisky maker announced this week. British-American national Menezes, born in the Indian city of Pune, joined Diageo after its formation through the merger of Guinness and Grand Metropolitan in 1997. The executive, who was behind the "Keep Walking" campaign for Johnnie Walker when he was marketing head, previously held roles at Whirlpool and Nestle. Menezes, who was awarded a knighthood this year, is survived by his wife and two children.

Persons: Ivan Menezes, Johnnie Walker, Debra, Menezes, Ivan, Javier Ferrán, Julio, Arvind Subramanian, Subramanian, Menzes, Eva Mathews, Sinchita Mitra, Dhanya Skariachan, Sherry Jacob, Phillips, David Evans Organizations: Diageo, American, Guinness, Grand Metropolitan, Whirlpool, Nestle, Government of, Indian Institute of Management, Thomson Locations: Indian, Pune, Government of India, Ahmedabad, India, Bengaluru

☆ Diageo's long-time boss Ivan Menezes passes away after brief illness
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - Diageo (DGE.L) said on Wednesday long-time boss Ivan Menezes has passed away following a brief illness. The announcement comes after the world's biggest spirits company on Monday said CEO-designate Debra Crew would assume the top role on an interim basis immediately as Menezes was under medical treatment. British-American national Menezes, 63, who was born in the Indian city of Pune, joined Diageo after its formation through the merger of Guinness and Grand Metropolitan in 1997. Sales at Diageo, the maker of Johnnie Walker whisky, Tanqueray gin and Don Julio tequila, surged under Menezes' leadership, and he steered the company through multiple brand acquisitions as well as a major sustainability overhaul. Reporting by Eva Mathews in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Ivan Menezes, Debra, Menezes, Johnnie Walker, Julio, Eva Mathews, Sherry Jacob, Phillips Organizations: Diageo, American, Guinness, Grand Metropolitan, Thomson Locations: Indian, Pune, Bengaluru

☆ Guinness Maker Diageo Appoints Its First Female CEO
▼ + stars: | 2023-03-28 | by ( Elena Vardon | Michael Susin | ) www.wsj.com time to read: 1 min

Debra Crew, currently Diageo’s chief operating officer, will take over from Ivan Menezes on July 1. Diageo PLC named Debra Crew as its next chief executive, tapping an internal candidate to succeed longstanding leader Ivan Menezes at the helm of the alcoholic beverage company. The London-based maker of Johnnie Walker Scotch whisky, Guinness stout and Smirnoff vodka said Tuesday that Ms. Crew, currently Diageo’s chief operating officer, would take over from Mr. Menezes on July 1. In becoming CEO, she adds to the handful of women that lead one of Britain’s biggest companies.

☆ Johnnie Walker maker Diageo appoints Debra Crew CEO
▼ + stars: | 2023-03-28 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —One of the world’s largest alcoholic drinks companies has appointed its first female CEO. Diageo, which makes Guinness beer and Johnnie Walker whisky, said Tuesday that chief operating officer Debra Crew would succeed Ivan Menezes, who will retire from the company after 10 years at the helm. Diageo is the seventh-largest member of the FTSE 100 (UKX) index and will now become the largest UK-listed company led by a woman. There are just nine other FTSE 100 (UKX) companies led by women, including pharmaceutical company GlaxoSmithKline (GLAXF) and bank NatWest. Diageo is the world’s fourth biggest alcoholic drinks company by market value, after AB InBev (BUD) and China’s Wuliangye Yibin and Kweichow Moutai.

☆ Easy Diageo succession belies new CEO’s hard job
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +2 min

On Tuesday, the 80 billion pound maker of Guinness and Don Julio tequila announced that Chief Operating Officer Debra Crew would replace CEO Ivan Menezes in July. Menezes has been gunning for 5%-7% annual revenue growth and a 6%-9% annual increase in operating profit over the next three years. The company operates with a 31% operating profit margin, higher than its closest rival Pernod Ricard (PERP.PA), which runs on 29%. With the price of staff, ingredients and packaging soaring, cost cutting will be hard to pull off. Diageo’s smooth succession may lay the path for a bumpy road.

☆ Diageo CEO Menezes to retire after nearly a decade in role
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: 1 min

March 28 (Reuters) - Diageo (DGE.L) said on Tuesday that Chief Executive Ivan Menezes will retire and leave the Johnnie Walker whisky maker at the end of June, after nearly a decade at the helm. Menezes will be replaced as CEO by Chief Operating Officer (COO) Debra Crew, who will also join the board, Diageo said in a statement. Crew, who took on the role of COO last October, was previously president of Diageo North America and Global Supply from 2020, the company said. Menezes joined Diageo after the merger of Guinness plc and Grand Metropolitan plc in 1997 and has held a number of senior positions in the business, Diageo said. Reporting by Yadarisa Shabong in Bengaluru; editing by Savio D'Souza and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

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