15th Jun 2015 14:09
LONDON (Alliance News) - Diageo PLC Monday said the president of its North American operations, Larry Schwartz, has informed the company he will retire at the end of 2015.
The drinks giant said the search for his replacement was underway as Schwartz leaves after 15 years at the company and 40 years in the drinks industry.
"The board and I will announce Larry's successor in due course. This is a strong business and until he retires, Larry will support the new leader of our North American business as they implement the changes needed to deliver improving performance," said Chief Executive Ivan Menezes.
Diageo shares were down 1.0% to 1,878.50 pence per share on Monday afternoon.
By Joshua Warner; [email protected]; @JoshAlliance
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