- Manzoni is expected to start around February 5, 2025
- He will replace Javier Ferran who is retiring
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Manzoni will replace outgoing president Javier Ferran, who is due to retire around February 5, 2025.
Diageo has hired a former civil service boss as its next chairman, replacing Javier Ferran when he retires in February next year.
The FTSE 100 drinks giant, which is behind brands such as Johnnie Walker and Guinness, told investors on Tuesday that Sir John Manzoni would lead its board from 2025.
Manzoni joined the Diageo board in 2020, having led the UK civil service as chief executive from 2014,
He is currently chairman of the SSE energy sector and spent 11 years as a non-executive director of African beer brewer SABMiller, acquired by Anheuser-Busch InBev in 2016.
The West’s largest spirits maker said it began searching for a new chairman in the summer of 2023, shortly before a profit warning in November that shook some investors’ confidence.
The company is facing slowing sales in much of the world – but not in Britain – and in January reported a decline in revenue and profits for the six months to the end of December.
Susan Kilsby, senior independent director at Diageo, said: “John has an exceptional track record of leadership in alcohol and a number of other complex and rapidly evolving sectors in the UK and around the world. .
“His experience and expertise will be instrumental as Diageo continues to develop and grow its global business in the years to come.”
Sir John Manzoni added: “Since joining the board, I have been continually impressed by the growth potential of the organization, the quality of our brands, and the dedication and high standards of colleagues at Diageo around the world.
“Diageo has an unrivaled portfolio, global presence and leading capabilities, and I look forward to supporting the management team to ensure we realize our potential.” »
Diageo shares fell 1.15 percent to 2,835.50p early Tuesday morning.