Sir Ivan Menezes, the long-serving boss of the world’s largest spirits maker Diageo, has died on the age of 63 after a brief sickness.
Menezes, who was chief govt of the £75bn London-listed alcoholic beverage group since 2013 till he stepped again this week, had been in hospital being handled for medical circumstances together with a abdomen ulcer.
On Monday, Diageo, the producer of manufacturers together with Guinness, Smirnoff, Gordon’s gin and Johnnie Walker whisky, stated Menezes had suffered a “vital setback” over the weekend owing to problems.
Because of this, the corporate introduced that Debra Crew would turn into interim chief govt with rapid impact, weeks earlier than Menezes’ deliberate retirement on the finish of June.
On Wednesday, Javier Ferrán, the chair of Diageo, stated: “That is an extremely unhappy day. Ivan was undoubtedly one of many most interesting leaders of his era.
“Ivan was there on the creation of Diageo and over 25 years formed Diageo to turn into one of many best-performing, most trusted and revered client corporations. His want to construct the world’s greatest manufacturers by no means left him.”
Diageo’s market worth virtually doubled from £42bn to £75bn below the management of Menezes, who developed one of many world’s most well-known advertising campaigns within the brand-reviving “Maintain Strolling” adverts for Johnnie Walker beginning with Harvey Keitel in 1999.
Menezes, who was knighted for providers to enterprise and equality in King Charles’s first new yr honours checklist in January, was paid virtually £8m final yr, together with greater than £6m in bonus- and incentive-related awards.
Menezes was working at Guinness when it merged with the drinks group Grand Metropolitan in 1997 to type Diageo. The corporate stated achievements throughout his decade as chief govt included Guinness turning into the biggest-selling beer by worth in bars and eating places in Nice Britain for the primary time final December.
After the impression of the pandemic on the hospitality business, Menezes led a restoration that has seen Diageo’s internet gross sales worth 36% greater than in 2019.
Menezes, who held UK and US citizenship in addition to abroad citizenship for his native India, led an organization that has grown, by its personal estimates, to account for 10% of the UK’s complete meals and drinks exports.
Ferrán stated: “He has constructed a unprecedented legacy. Ivan leaves behind many associates and a beloved household, and our ideas are significantly along with his spouse, Shibani, and his two kids, Nikhil and Rohini. On behalf of the board, govt committee and all our staff, we prolong our deepest sympathies to them.”