Ivan Manuel Menezes, the India-born CEO of the world’s greatest spirits firm Diageo, died on Wednesday, days after the agency mentioned he was hospitalised for therapy.
Menezes, 64, who was to retire on the finish of this month, was admitted to hospital for therapy of circumstances, together with a abdomen ulcer, sources in know of the matter mentioned.
The motive for his loss of life in London was not instantly recognized.
Diageo had on Monday introduced that CEO-designate Debra Crew will assume the highest function on an interim foundation instantly as Menezes undergoes medical therapy.
“Over the weekend, we learned that Ivan’s recovery suffered a significant setback due to complications, which followed emergency surgery on the ulcer,” Diageo had mentioned in a press release.
Pune-born Menezes, whose father Manuel Menezes was the chairman of Indian Railway Board, was educated on the prestigious St. Stephen’s College in Delhi and Indian Institute of Management, Ahmedabad.
Menezes joined Diageo in 1997 after its formation by way of the merger of Guinness and Grand Metropolitan. He rose rapidly within the ranks to change into an govt director in July 2012 and chief govt officer in July 2013. He was knighted in 2023.
His brother Victor Menezes is the previous chairman and CEO of Citibank.
Diageo, the maker of Johnnie Walker whisky, Tanqueray gin and Don Julio tequila, had on March 28 introduced the appointment of Crew to exchange Menezes.
“During Ivan’s tenure, Diageo has made great strides towards its ambition to become one of the best performing, most trusted and respected consumer products companies in the world.
“Diageo has grown considerably throughout this era, now promoting over 200 manufacturers in additional than 180 markets and is right now, the primary firm by web gross sales worth in Scotch whisky, vodka, gin, rum, Canadian whisky, liqueurs, and likewise tequila, a class wherein solely eight years in the past the corporate had no substantive place,” the corporate had mentioned within the March 28 announcement.
Source: www.thehindu.com