Diageo Confirms Appointment of John Manzoni as Chairman, Succeding Javier Ferran

Diageo, a beverage company headquartered in London, has appointed a new chair. John Manzoni will replace Javier Ferran.

Reason for New Appointment

Diageo confirmed the leadership change on Tuesday, March 19. It shared that Ferran is stepping down from his chairman role to retire.

Ferran will officially leave the company in February 2025. According to Reuters, Diageo found his replacement after almost a year of searching, which started in the summer of 2023.

Lead Executives Welcome the New Appointment

Meanwhile, Sir John Manzoni will also replace Javier Ferrán as the chairman of the Nomination Committee in February of next year. He is currently a non-executive director of engineering and technology business at KBR Inc. and chairman of the board at the UK's defense ministry facility, Atomic Weapons Establishment.

"On behalf of the entire Board, I want to express our gratitude to Javier," Diageo's independent director, Susan Kilsby, said in a press release. "He has led our Board with great distinction, helping us to attain new levels of commercial success and to strengthen our position as one of the most trusted and respected consumer products companies in the world."

She added, "We are proud of the progress Diageo has made under his stewardship, achieving average annual total shareholder returns of eight percent over the last decade, and driving diversity throughout our organization."

Diageo's chief executive officer, Debra Crew, further stated, "Javier has been an invaluable source of strategic counsel and advice for me and our wider leadership team and I want to thank him personally for the role he has played in stewarding the business so successfully."

Finally, the CEO said she looks forward to working with Manzoni and the other Board members to achieve the company's goals.

Photo by: Diageo Press Release