Ivan Menezes, who had intended to retire at the end of this month, died after being admitted to the hospital for several medical issues.
The Chief Executive Officer of Diageo Ivan Menezes passed away on Wednesday, 7th June 2023. Menezes, a 64-year-old executive who was planning to retire at the end of this month, was admitted to the hospital for a number of ailments, including a stomach ulcer, according to PTI.
The cause of Ivan Menezes death in London is still unknown.
Menezes was raised in a distinguished family and was born in Pune, India. His father, Manuel Menezes, was the head of the Indian Railway Board. Ivan Menezes attended the prestigious St. Stephen's College in Delhi as well as the Indian Institute of Management in Ahmedabad for his studies.
Menezes had been a part of Diageo ever since Guinness and Grand Metropolitan merged to form the company in 1997. During his time there, he effectively increased revenue, handled a number of brand acquisitions, and led the company through a big sustainability change.
Diageo, known for its brands such as Johnnie Walker whisky, Tanqueray gin, and Don Julio tequila, had announced on March 28 that Crew would succeed Menezes.
"Diageo has made significant progress towards its goal of becoming one of the most successful, trusted, and respected consumer product companies worldwide,” the company said in a statement recognising Menezes' accomplishments during his tenure.
Diageo's market valuation was $96.16 billion as of June 2023. According to the data, this places Diageo as the 144th most valuable firm in the world by market cap.