Sir Ivan Menezes, the long-serving CEO of the world’s biggest spirits maker Diageo, passed away at the age of 63 after a short illness in London, England. This happened just days after it was announced that Menezes had been hospitalised for treatment.
Menezes, the chief executive of the £75 billion London-listed alcoholic beverage group since 2013, had decided to step down from his position this month after being treated for several medical conditions including a stomach ulcer. The reason for his death has not been disclosed yet.
Menezes had suffered a “significant setback” over the weekend because of certain complications, according to a statement put out by Diageo, which is the producer of popular alcoholic brands like Guinness, Smirnoff, Gordon’s gin, and Johnnie Walker whisky.
The company had announced on Monday that CEO-designate Debra Crew would immediately assume his role on an interim basis, while Menezes was still undergoing treatment.
"This is an incredibly sad day. Ivan was undoubtedly one of the finest leaders of his generation.He has built an extraordinary legacy. Ivan leaves behind many friends and a beloved family, and our thoughts are particularly with his wife, Shibani, and his two children, Nikhil and Rohini. On behalf of the board, executive committee and all our employees, we extend our deepest sympathies to them."Javier Ferrán, Diageo chair
Educational and Professional Journey
Menezes was born in Pune, Maharashtra, in 1959 and was educated at the prestigious St Stephen's College in Delhi and later, the Indian Institute of Management (IIM) Ahmedabad.
His father, Manuel Menezes, was the chairman of the Indian Railway Board. He held UK and US citizenship, along with an Indian overseas citizenship.
Menezes joined Diageo in 1997 following the merger of Guinness and Grand Metropolitan. He worked his way to become an executive director in July 2012 and then, the chief executive officer in the following year. His brother, Victor Menezes, is the former chairman and CEO of Citibank.
He played a pivotal role in driving growth at Diageo and helped navigate the company through several successful acquisitions.
After the COVID-19 pandemic on the hospitality industry, Menezes led a recovery that increased Diageo’s net sales value by 36 percent more than in 2019.
He was at the helm of a company that, according to its own assessments, has expanded to encompass approximately 10 percent of the United Kingdom's overall food and beverage exports.
Menezes was knighted earlier this year in King Charles III's first New Year's honours list for services to business and to equality.
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)