Sir Ivan Menezes, CEO of Diageo, passes away at the age of 64

Diageo CEO Sir Ivan Menezes passed away on Wednesday due to health complications. he was 64. Manezes, who was set to retire at the end of this month, was receiving treatment, including for a stomach ulcer, according to a Diageo statement accessed by Reuters. He is survived by his wife and two children. 

"Over the weekend, we learned that Ivan's recovery suffered a significant setback due to complications, which followed emergency surgery on the ulcer," Diageo said in a statement accessed by Reuters.

He appointed Debra Crew as the Interim CEO on June 5. Crew will join the board as an executive director on July 1. With this, Debra Crew becomes one of the only women to lead a company in Britain's blue-chip FTSE 100 index. 

Debra Crew is currently serving as the president of Diageo North America and Global Supply since 2020. She has a challenge to cement Diageo's dominance in the US and establish several premium brands post-COVID. 

Menezes joined the company in 1997 after its formation through the merger of Guinness and Grand Metropolitan. He was appointed as the Diageo CEO in July 2013. Prior to this, he served across various capacities at Diageo-- Chief Operating Officer; Chairman, Latin America and the Caribbean; Chairman, Asia Pacific; President and CEO, Diageo North America; and Chief Operating Officer, Diageo North America.

The late Diageo CEO is credited with growing brand sales sharply, and steering the company through multiple acquisitions and major sustainability overhaul. Before joining Diageo in 1997, Menezes worked with the likes of Nestle, Booz Allen Hamilton, and Whirlpool in marketing and strategy roles. 

Ivan Menezes was also the Chairman of the Council of Scotch Whisky Association; Non-Executive Director at Tapestry; Member of the Global Advisory Board at Kellogg School of Management; Trustee at Movement to Work; and Member of the International Alliance for Responsible Drinking. 

(With Reuters inputs)