JOHNNIE Walker and Bell’s Scotch whisky distiller Diageo has unveiled a former chief executive of rum maker Bacardi as its new chairman.
Diageo, which also counts Irish stout Guinness among its raft of major alcoholic drinks brands, said that Javier Ferran would become a non-executive director from July 22. It added that Mr Ferran would be appointed chairman on January 1, 2017, on the retirement of Franz Humer.
The incoming chairman plans to step down from the board of rival drinks company SABMiller, where he is a non-executive director.
Mr Ferran is a partner at Lion Capital, which describes itself as a consumer-focused investor that is passionate about brands. He has been a founder partner of Lion Capital since 2005.
Before that, he spent more than a decade at Bacardi, latterly as the rum producer’s president and chief executive.
He is also currently a non-executive director of Associated British Foods and Barcelona-based fashion company Desigual.
Mr Ferran is also a member of the advisory board of Barcelona-based Agrolimen, which has a portfolio that includes pet food brands. And he is on the international advisory board of the ESADE Business School in Barcelona.
Diageo said that Mr Ferran would not seek re-election to the board of SAB Miller at the brewer’s annual meeting on July 21
Lord Davies of Abersoch, senior non-executive director at Diageo and chairman of the company’s nominations committee, said: “The board is delighted that Javier has agreed to be the next chairman of Diageo. He has experience across the consumer sector, given his career at both Lion Capital and Bacardi, and he has demonstrated his ability to enable companies to drive value through the rigorous deployment of capital. He therefore brings a strong set of skills and experience to the role of chairman.”
Diageo chief executive Ivan Menezes said: “I am very pleased to welcome Javier to the Diageo board. He brings a wealth of experience to the role of chairman.
“On behalf of everyone at Diageo, I want to thank Franz for the role he has played in making Diageo the strong business it is today. The appointment of someone of Javier’s ability as Franz’s successor is a tribute to all that Franz has contributed to Diageo.”
He added: “Diageo is executing a clear strategy with discipline in order to deliver accelerated top-line growth, greater productivity and continued strong cash flow. I look forward to working with Javier as we build Diageo’s leadership position and achieve our ambition.”
Mr Ferran said: “It will be a privilege to chair the Diageo board. The company is in a strong position with leading brands, geographic reach and financial strength. It now has a consumer-facing culture and a rigorous approach to the decisions it makes. As chairman, it will be my role to work with the strong executive team, led by Ivan, to ensure that the company delivers its potential.”
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