First Female CEO in company
Diageo, one of the world's largest producers of alcoholic beverages, has recently made a historic announcement the appointment of its first-ever female CEO.
As of July 1, Debra Crew, former chief operating officer of Diageo, will take over from the outgoing CEO Ivan Menezes, who has led the company for a decade. Crew's appointment will also result in women constituting over 50% of Diageo's executive committee.
Diageo, ranking as the seventh-largest constituent of the FTSE 100 index, has made a significant announcement. With the appointment of a female CEO, it is set to become the largest UK-listed company with a woman in this role. Out of the 100 companies listed in the FTSE, only nine currently have women holding the position of CEO, with examples including GlaxoSmithKline and NatWest.
Diageo company holds the fourth position in the global alcoholic beverages sector in terms of market value, with only AB InBev and Chinese firms Wuliangye Yibin and Kweichow Moutai ahead of it. When taking into account French luxury goods group LVMH, Diageo becomes the fifth-largest company in this sector.
Under Menezes' leadership, Diageo's share price almost doubled, and the company is the top seller of Scotch whisky, tequila, vodka, and gin worldwide. According to chairman Javier Ferrán, Menezes transformed Diageo's brand portfolio and strategic focus, positioning it as a leader in premium drinks.
Crew, who joined Diageo from PepsiCo in 2020, has previously held leadership positions in Kraft Foods, Nestle, and Mars. The company's board has meticulously planned for Menezes' successor and is confident that Crew is the right leader to take the company forward in its next phase of growth.
In summary, Diageo's appointment of Debra Crew as its first female CEO marks a significant milestone for the company and the industry. With her vast leadership experience, the company is poised to continue its growth trajectory and maintain its position as a leader in the global alcoholic beverages market.