Debra Crew Named CEO At Diageo, Menezes To Step Down June 30
March 28, 2023Diageo has announced that Sir Ivan Menezes will retire as Chief Executive Officer and depart from the Diageo board on June 30, after leading the drinks giant for a decade. Debra Crew, currently Chief Operating Officer, will be appointed Chief Executive Officer and join the Diageo board, effective July 1.
Appointed Chief Operating Officer in October 2022, Crew was previously President, Diageo North America and Global Supply. She’s credited with leading Diageo’s largest market to 14% sales growth in fiscal 2022, after driving 20% organic growth the prior year. She originally joined the Diageo board as a non-executive director in April 2019, before stepping down from the board when she was named President, Diageo North America in July 2020. Crew is a former President and CEO of Reynolds American, Inc., and also spent time with PepsiCo, Kraft Foods, Nestlé S.A. and Mars, Inc.
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.”
“The Board is enormously grateful for Ivan’s contribution over the past decade,” said chairman Javier Ferran, noting that Menezes “has transformed Diageo’s global footprint, brand portfolio and strategic focus, positioning our business as a clear leader in premium drinks” and “leaves Diageo extremely well positioned for future growth.”
“Debra has been a highly valued member of Diageo’s leadership team in recent years with an impressive track record of delivery both at Diageo and across other global consumer goods companies,” Ferran added. “She has deep consumer industry expertise as well as proven strategic capabilities, strong operational performance and a clear ability to build and lead teams. I have no doubt that Diageo is in the right hands for the next phase of its growth.”
Diageo saw net sales increase 9% on an organic basis to approximately $11.6 billion during its fiscal first half ended in December, as organic operating profit rose 9.7% to just under $4 billion. Premium-plus brands contributed 57% of reported net sales and drove 65% of organic net sales growth, with the company seeing global gains across most categories, led by Scotch, Tequila, and beer.—Daniel Marsteller
| Diageo—Key Brands in the U.S. (millions of 9-liter case depletions) |
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| Rank | Brand1 | Origin/Type | 2021 | 2022 | Percent Change2 |
|---|---|---|---|---|---|
| 1 | Smirnoff | Domestic Vodka | 8.9 | 8.7 | -2.5% |
| 2 | Crown Royal | Canadian Whisky | 7.5 | 7.4 | -1.4% |
| 3 | Captain Morgan | Virgin Islands Rum | 5.4 | 5.3 | -2.9% |
| 4 | Ketel One | Imported Vodka | 2.6 | 2.6 | -1.7% |
| 5 | Casamigos | Tequila | 2.0 | 2.4 | 20.0% |
| 6 | Don Julio | Tequila | 1.9 | 2.1 | 12.0% |
| 7 | Johnnie Walker | Scotch Whisky | 2.0 | 2.0 | -1.6% |
| Total Key Brands3 | 30.3 | 30.3 | 0.0 | ||
| 1 Includes flavors, excludes RTDs. 2 Based on unrdounded data. 3 Addition of columns may not agree due to rounding. Source: IMPACT DATABANK © 2023 |
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Tagged : Casamigos, Crown Royal, Diageo, Don Julio, Smirnoff
