The long-time boss of FTSE 100 agency Diageo has died simply weeks earlier than he was attributable to retire.
Sir Ivan Menezes had been in hospital for therapy of situations together with a abdomen ulcer, the Johnnie Walker whisky-to-Guinness stout maker had beforehand mentioned.
He died from issues following surgical procedure on the ulcer.
Sir Ivan was 63 and had been attributable to step down on the finish of the month following 10 years on the helm.
Diageo mentioned that CEO-designate, Debra Crew, would tackle the position on an interim foundation forward of her formal appointment.
Sir Ivan – a daily visitor on Sky’s enterprise programme Ian King Live – joined Diageo in 1997 after its formation by way of the merger of Guinness and Grand Metropolitan.
He was the brains behind the “Keep Walking” marketing campaign for Johnnie Walker whereas head of promoting.
Under his decade-long management, Diageo grew to become the world’s largest spirits agency by way of a number of model acquisitions.
The agency now accounts for 10% of the UK’s complete meals and drinks exports.
Read extra:
Ian King’s tribute to Sir Ivan on information of his retirement
Diageo chairman Javier Ferrán mentioned of the information: “This is an incredibly sad day. Ivan was undoubtedly one of the finest leaders of his generation.
“Ivan was there on the creation of Diageo and over 25 years, formed Diageo to develop into the most effective performing, most trusted and revered client corporations.
“I saw first-hand his steadfast commitment to our people and to creating a culture that enabled everyone to thrive.
“He invested his time and energy in people at every level of the company and saw potential that others may have overlooked. This is one of many reasons why he was beloved by our employees, past and present.
“Ivan’s vitality and his dedication to range created a very inclusive enterprise and enabled Diageo to have a optimistic impression on the communities we serve.
“His passion for our brands was second-to-none and in his heart, he remained the Johnnie Walker marketer from his early days.
“The want to construct the world’s greatest manufacturers by no means left him.”
AJ Bell’s investment director, Russ Mould, said that while the market knew Sir Ivan had been unwell, news of his passing was still a “shock”.
“Sir Ivan Menezes might be remembered for remodeling Diageo’s fortunes and making it the powerhouse it’s as we speak within the spirit sector.
“He was greatly admired by the business community and by investors.
“In his 10 years as chief govt, he targeted on high-end manufacturers, recognising that client tastes had been evolving and that folks had been ready to pay a premium value for a top quality product.”
Source: information.sky.com”