Diageo has announced that its current non-executive director Sir John Manzoni, will become Chair of its Board in February 2025, replacing Javier Ferrán when he retires.
Sir John joined the Diageo Board in October 2020, having been Chief Executive of the UK Civil Service from 2014 to 2020. He is currently Chair of multinational energy business SSE and a non-executive director of engineering and technology business KBR. He was previously a non-executive director of drinks company SAB Miller for 11 years, from 2004 to 2015.
Ferrán was appointed Chair in January 2017.
Susan Kilsby, Diageo’s senior independent director who led the appointment process, said: “On behalf of the entire Board, I want to express our gratitude to Javier. He has led our Board with great distinction, helping us to attain new levels of commercial success and to strengthen our position as one of the most trusted and respected consumer products companies in the world.
“The Board is delighted to appoint John as Diageo’s next Chair, following an extensive search process. John has an outstanding track record of leadership within beverage alcohol and across a number of other complex and fast-changing sectors in the UK and globally. His experience and expertise will be instrumental as Diageo continues to develop and grow its global business in the years ahead.”
Debra Crew, Chief Executive, added: “Javier has been an invaluable source of strategic counsel and advice for me and our wider leadership team, and I want to thank him personally for the role he has played in stewarding the business so successfully.
“With a strong focus on execution, we will continue to invest behind our iconic brands to create value for shareholders and maintain our position as an industry leader in total beverage alcohol, an attractive sector with a long runway for growth. I look forward to working with John as Chair and the rest of the Board to achieve those ambitions.”
Last month, it was reported that Diageo was working on plans to sell a trio of its non-core brands, including the popular summer drink Pimm’s.
The potential disposal comes at a challenging time for Diageo. Its share price has tumbled after a torrid few months in the wake of a profit warning in November, which was blamed on weak sales of Scotch whiskey in Latin America and the Caribbean.
