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Diageo appoints former head of UK civil service as chairman
After an eight-month search and selection process, Diageo has chosen a new chairman to succeed Javier Ferran, who will retire next February.
Sir John Manzoni, the former head of Britain’s civil service, will work alongside Ferran and chief executive Debra Crew in a handover period during the next few months as they seek to restore Diageo’s reputation among investors.
The world’s biggest premium drinks company has seen its shares slump by 19% over the past year, on fears that growth in the vital North American market was slowing and issuing a
surprise profit warning in November because of a 20% slump in sales in Latin America.
By appointing Manzoni, Diageo has chosen an insider, just as it did when Crew moved into the chief executive’s seat last year after heading the North American operation.
Manzoni joined the Diageo board in 2020 as a non-executive director, after heading the UK Civil Service as chief executive from 2014.
Experience
He currently chairs the energy business SSE but outside Diageo gained experience in the drinks sector for 11 years as a non-executive director of SABMiller before it was taken over
by Anheuser-Busch InBev in 2016.
Manzoni is also a non-executive director of engineering and technology group KBR and chairs the board of the UK’s Atomic Weapons Establishment.
Previously, he was involved in global energy through Canada’s Talisman Energy where he was president and chief executive and as a senior executive and board member at BP .
He was appointed a Knight Commander of the Order of the Bath (KCB) in the 2020 New Year Honours for public service.
Ferran will hand over to Manzoni next February after Diageo publishes interim results for the six months to the end of December.
Outstanding track record
Susan Kilsby, Diageo’s senior independent director who led the appointment process, said Manzoni had been selected following an extensive search.
“John has an outstanding track record of leadership,” she said, adding that his experience will be instrumental as Diageo continues to grow.
In a company statement Ferran, who has chaired the group for nine years, said: “It has been a true privilege to lead Diageo’s board during a period in which we have achieved significant growth, reshaped our portfolio and geographic footprint, and navigated widespread global volatility.
“I look forward to working with John, the board and all my Diageo colleagues to ensure a smooth transition over the coming months.”
Privilege
Manzoni said: “It will be a privilege to take on this role and to succeed Javier, whose leadership and acumen have been so valuable to our business and to board colleagues.
“Since joining the board, I have been continually impressed by the growth potential of the organisation, the quality of our brands, and the dedication and high standards of Diageo colleagues around the world.
“Diageo has an unrivalled portfolio, a global footprint and world-leading capabilities, and I look forward to supporting the executive team to ensure that we deliver on our potential.”
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