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March 28, 2014
06:15 EDTDEODiageo shakes up executive team
Ivan Menezes, CEO, announced: "Over the last few years the scale and shape of our business in Asia Pacific has transformed, primarily by the acquisitions we have made in India and Greater China. These markets are key growth engines for Diageo, and Gilbert Ghostine will now focus on the development of our position in India and China, a position which he orchestrated as he led the expansion of our business in Asia Pacific. I have also asked Gilbert to take on the newly created role of Chief Corporate Development Officer, responsible for Business Development. In addition he will be responsible for our relationship with MoŽt Hennessy and will join me on the MoŽt Hennessy/Diageo Joint Committee. Gilbertís title will be President, Diageo India and Greater China, and Chief Corporate Development. My second change is to reconfigure the leadership of our emerging markets outside Latin America and Caribbean and Nick Blazquez is appointed President, Diageo Africa, Eurasia and Pacific. I have decided that our Global Supply and Procurement function will report to Deirdre Mahlan, CFO. David Gosnell, President Global Supply and Procurement, is retiring from the Diageo Executive Committee at the end of this financial year and David Cutter, currently International Supply Centre Director, is appointed President Global Supply and Procurement and will join the Executive Committee reporting to Deirdre."
News For DEO From The Last 14 Days
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October 8, 2015
06:12 EDTDEODiageo under pressure to sell beer business, NY Post reports
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October 7, 2015
05:54 EDTDEODiageo receives $780.5M in asset swap with Heinenken
Diageo (DEO) said it has completed a transaction with Heineken (HINKY) which "brings increased focus to their respective beer businesses in Jamaica, Malaysia, Singapore and Ghana." The transaction comprises the sale of Diageo's 57.87% shareholding in Desnoes & Geddes Limited to Heineken which will increase Heineken's shareholding in D&G to 73.32%; The sale of Diageo's 49.99% stake in GAPL Pte Limited to Heineken giving Heineken full ownership of GAPL; The acquisition by Diageo of Heineken's 20% shareholding in Guinness Ghana Breweries Limited which will increase Diageo's shareholding in GGBL to 72.42%. The net cash consideration receivable for the transaction is $780.5M. Payment to Diageo will be substantially settled today and will be used to reduce borrowings. The transaction will result in a profit on disposal of approximately GBP 440M after tax. It is approximately 0.6 pence per share dilutive to earnings per share pre-exceptional in the first full year assuming a marginal interest rate of 2.5%.
October 5, 2015
10:50 EDTDEODiageo appoints Kathryn Mikells as CFO effective November 9
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September 30, 2015
17:04 EDTDEODiageo could be moving ahead with wine brands sale, Telegraph says
Diageo could be proceeding with its sale of its wine brands, including Blossom Hill, as the company sells off peripheral businesses, reports the Telegraph. Reference Link
11:48 EDTDEODiageo initiated with a Buy at UBS
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