12th Apr 2016 11:25
LONDON (Alliance News) - Diageo PLC on Tuesday confirmed it is searching for a new chairman as the end of Franz Humer's term is coming up at the end of June.
Humer has been at the helm of the drinks giant for eight years. When he took up the role in 2008 it was for an initial five-year term, but this was then extended to June 30, 2016.
Now with the term close to coming to an end, Diageo revealed that it has started to look for a potential successor.
"Dr Humer has been our esteemed chairman for 8 years guiding the company to the leadership position we have today. As a matter of good governance process, the board has clearly started to think about succession and a process is underway. At the appropriate time we will announce our plans for succession," a Diageo spokesperson said.
According to the Times newspaper, Senior Non-Executive Director Lord Davies of Abersoch and an unnamed former Standard Chartered PLC chief executive are both tipped for the job. SABMiller PLC Chairman Jan du Plessis and former Marks & Spencer Group PLC CEO Marc Bolland were also reportedly mentioned as potential successors.
http://www.thetimes.co.uk/article/diageo-searches-for-successor-with-humer-ready-to-call-time-2bmnnlk3g
Shares in Diageo were trading down 0.1% at 1,896.00 pence on Tuesday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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