Diageo CEO Ivan Menezes Passes Away At 63
June 7, 2023Ivan Menezes, who led the world’s largest spirits company for the past decade, has passed away at the age of 63 after a brief illness.
“This is an incredibly sad day,” said Diageo chairman Javier Ferran. “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.”
Earlier this week Diageo announced that Menezes faced complications after recently seeking medical treatment, which included surgery for a stomach ulcer, and that chief operating officer Debra Crew would become interim CEO immediately. She was already scheduled to succeed the retiring Menezes on July 1.
“This is very sad news,” said Marvin R. Shanken, chairman of M. Shanken Communications, Inc. “Ivan was a wonderful human being. And so young. He accomplished so much during his lifetime. We will all miss him.”
Born in Pune, India in 1959, Menezes was the strategy director at one of Diageo’s forerunner companies, Guinness PLC, when Diageo was created in 1997. He subsequently held several senior roles at Diageo including Chief Operating Officer; President, Diageo North America; Chairman, Diageo Asia Pacific; and Chairman, Diageo Latin America and Caribbean; before being elevated to CEO in July 2013.
Diageo noted the company has expanded markedly during Menezes’ tenure, “now selling over 200 brands in more than 180 markets and is today the number one company by net sales value in Scotch whisky, vodka, gin, rum, Canadian whisky, liqueurs, and also Tequila, a category in which only eight years ago the company had no substantive position.”
He also navigated the company through the pandemic, with its sales now registering 36% above pre-pandemic levels. Likewise, he unveiled a $100 million “Raising the Bar” program to help pubs and bars around the world reopen post-Covid.
Menezes set targets to achieve gender parity in Diageo’s senior leadership and to have 45% of Diageo’s leadership to be ethnically diverse by 2025. As of now, over 40% of Diageo’s senior leadership positions globally are held by women, while 37% are ethnically diverse.
On the sustainability front, Diageo halved carbon emissions in absolute terms under his leadership, amid increased production and sales, and water efficiency also improved by almost half. His philanthropic pursuits included serving as chairman of “Movement to Work” and Pratham, devoted to structured work placements for young people in the UK and youth education and literacy in India, respectively.
In January 2023, Menezes was knighted for “services to Business and to Equality in His Majesty The King’s 2023 New Year Honours List.”—Daniel Marsteller
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