The Courier & Advertiser (Fife Edition)
Former Diageo boss Sir Ivan Menezes helped build up firm
The former boss of Johnnie Walker and Smirnoff owner Diageo, Sir Ivan Menezes, has died aged 63 following a brief illness, the company has announced.
Diageo said he died with his family by his side, after announcing on Monday that he was undergoing emergency surgery in hospital.
Former chief operating offer Debra Crew was appointed interim chief executive with immediate effect earlier this week.
She was due to take over as boss of the firm from July 1, when Sir Ivan was set to retire.
Mr Menezes joined Diageo, which owns brands including Johnnie Walker, Smirnoff and Guinness, when it formed in 1997 and has spent more than 25 years in senior positions.
Announcing his retirement in March, the company said he had been at the helm of Diageo during a period of significant growth, with it now selling more than 200 brands in 180 markets.
He was made a knight for services to business and to equality in the King’s 2023 New Year Honours list.
He took home a pay packet of more than £7.8 million in the year to June 2022, which included his fixed salary, an annual bonus and a longterm incentive of £3.85m.
Javier Ferran, the chairman of Diageo, said: “This is an incredibly sad day. 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.
“Ivan leaves behind many friends and a beloved family, and our thoughts are particularly with his wife Shibani and his two children Nikhil and Rohini.
“On behalf of the board, executive committee and all our employees, we extend our deepest sympathies to them.”
Under Mr Menezes’ leadership, Diageo’s market value almost doubled from £42bn to £75bn.
He developed one of the world’s most famous marketing campaigns in the brand-reviving “Keep Walking” ads for Johnnie Walker, starting with Harvey Keitel in 1999.
Knighted for services to business and equality in King Charles’s first New Year Honours list in January, Mr Menezes was paid almost £8m last year, including more than £6m in bonus and incentiverelated awards.
Mr Menezes was working at Guinness when it merged with the drinks group Grand Metropolitan in 1997 to form Diageo.
The company said achievements during his decade as chief executive included Guinness becoming the biggestselling beer by value in bars and restaurants in Great Britain for the first time last December.
After the impact of the pandemic on the hospitality industry, Menezes led a recovery that has seen Diageo’s net sales value 36% higher than in 2019.
Mr Menezes, who held UK and US citizenship as well as overseas citizenship for his native India, led a company that has grown, by its own estimates, to account for 10% of the UK’s total food and drinks exports.