Out of the blue, Paul Walsh, successful chief executive officer at Diageo Plc, informed that he would retire after successful and fruitful 13 years managing the drinks giant. As it was made public, he would be succeeded by Diageo COO Ivan Menezes.
Even giants such as Diageo Plc are vulnerable to hard economic conditions in crisis-hit Europe. The newest findings of the London-based drinks company showed, however, that weak demand in the EU was partially offset by strong results recorded in the US market.
Diageo Plc, the world’s biggest spirits group, reported a 5 percent growth in quarterly sales. As it was stated the Diageo Plc growth in sales was driven by demand for brands such as Smirnoff and Captain Morgan in tthe United States and emerging markets as well. The company admitted, however, that its sales were affected by tough economic conditions in Southern Europe and Ireland as well.