Liquor firm Diageo today said Ivan Menezes will be appointed as the Chief Executive Officer (CEO) of the company with effect from July, 1 2013.

“... 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,” Diageo said in a statement.

In the last 12 months he (Walsh) will focus on transitioning critical partner and external relationships to Ivan, it added.

“These will include those relationships essential to recent acquisitions,” the company said.

Commenting on the development, Diageo Chairman Franz B Humer said the board is immensely grateful for his (Walsh) ambitious and thoughtful stewardship of the business and its people.

“The transition process which has been put in place enables Paul to contribute his knowledge and experience during Ivan’s first year as Chief Executive Officer (CEO),” Humer added.

Humer said that Ivan is taking on the role of CEO at an exciting stage of the company’s global development.

“The Board is confident that Ivan will inspire our organisation and Diageo will continue to achieve our medium-term performance objectives,” Humer added.

Last year Menezes had teamed up with Walsh for a deal to buy a 53.4 stake in United Spirits Ltd for Rs 11,166.5 crore , giving the Diageo greater access to the fast—growing Indian whiskey market.

Diageo, the world’s largest spirits maker, markets various liquor brands, including Johnnie Walker, Smirnoff, Baileys and Captain Morgan among others. The company is present across 180 markets and employ over 25,000 people globally.

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