Diageo's Finance Director for Latin America Named Latin Trade CFO of the Year

Diageo's Finance Director for Latin America Named Latin Trade CFO of the Year

PR Newswire

MIAMI, Dec. 13, 2012

MIAMI, Dec. 13, 2012 /PRNewswire/ --Ignacio Corral, Finance Director for
Latin America of Diageo, the world's largest distiller, received the Latin
Trade's CFO of the Year Award (Multinational) in Miami.

Corral was instrumental in the company's substantial 2012 revenue increase,
and his work is a good example of excellent financial results that stem from a
sound plan and an organized but flexible execution method that benefited from
regional growth.

Diageo focused its efforts on the sale of premium brands to increase gross and
operating margins which were correctly geared to profit from economic
expansion in Latin America.

Diageo posted a 19 percent revenue growth in the region, which almost doubled,
followed by Africa (with 11 percent) and Asia (with 8 percent). This
performance increases the probability of the company reaching its target of
doubling its sales volumes in the region in four years.

This year Diageo made important investments in its Latin America operation.
The most important move was the acquisition in May of the alcoholic beverages
division of Ypioca, the largest cachaca premium producer in Brazil and also,
second in value in the category. The finance area was crucially involved in
this process.

Diageo, under the regional leadership of Corral, also maintained a disciplined
but flexible financial execution system in place. Once goals are set by
corporate management, each country manager receives very specific targets to
be achieved, along with a set of broadly-defined guidelines to reach them. In
this way managers have enough leeway to achieve their goals.

The return of Diageo's stock serves as a good example for the effectiveness of
these strategies. It reached a hefty 36% YoY as of November 2012.

Diageo produces Johnnie Walker, Crown Royal, J&B, Windsor, Buchanan's and
Bushmills whiskies, Smirnoff, Ciroc and Ketel One, among other brands.

Corral, 42, was appointed as Finance Director for Latin America in January. He
previously served as Finance Director Iberia, Corporate Finance Director at
the company's headquarters in London, and Finance Director in Mexico. He has
been with Diageo since 1996.

Ignacio Corral received the award at the LT CFO Forum in Miami. The award has
been given to professionals such as the CFOs of Petrobras and Copersucar in
Brazil and America Movil and Grupo Mexico in Mexico.

LT CFO Forum are private events that offer CFOs, finance directors, treasurers
and controllers from various industries in Latin America the opportunity to
participate in high-level peer group discussions and interact in a private
setting. The events equip CFOs with expert insight that helps them prepare
for challenges across domestic and international borders.

Since 2005 LT CFO Events foster a greater level of discussion and interaction
between senior executives focusing on the trends, challenges and solutions
through regional events in Miami and local chapters in key markets in Latin
America.

About Latin Trade Group

Latin Trade Group is a leading provider of information and business services
to companies operating in Latin America. It publishes award-winning content
in Spanish and English for distribution throughout Latin America, the
Caribbean and the United States through print, online media and events. Latin
Trade group publishes Latin Trade and SPLENDID magazines, Latin Business
Chronicle, and is the organizer of the Latin Trade Symposium and BRAVO
Business Awards, the LT CFO Series for financial executives of multinational
corporations and Trade Americas.

CONTACT: Santiago Gutierrez, executive editor, Latin Trade, +1-305-744-3044,
sgutierrez@latintrade.com

SOURCE Latin Trade Group

Website: http://latintrade.com/
 
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