India-born Ivan Menezes was on Tuesday named as the next boss of Diageo - the world's biggest producer of alcoholic drinks - the maker of popular Johnnie Walker whisky and Smirnoff vodka.
53-year-old Menezes, the current Chief Operating Officer, will replace Paul Walsh as the Chief Executive Officer of the British company on July 1.
Walsh, 58, is retiring after being at helm of the company for 13 years.
To ensure a smooth transition, Walsh will stay on for one year before retiring on June 30, 2014, the london-based company said in a statement.
“Ivan Menezes will be appointed Chief Executive of Diageo with effect from 1 July, 2013. Paul Walsh, who will step down from the Board at the September 2013 Annual General Meeting, will retire from the company on 30 June 2014,” it said in the statement.
“We are delighted to have a leader of Ivan's talents and global experience to succeed Paul. The handover is being made at a time when the business is strong and Ivan takes on the role of CEO at an exciting stage of the company's global development,” said Franz B Humer, the Chairman of Diageo.