diageo plc-sponsored adr (DEO) Key Developments
Diageo Announces Executive Changes
Apr 16 15
Diageo announced that after 18 years with Diageo Andy Fennell, currently President, Diageo Africa and a member of the Executive Committee since 2008, is leaving Diageo at the end of the current fiscal year. John O'Keeffe, currently Managing Director, Guinness Nigeria, is to be appointed President, Diageo Africa, joining the Diageo Executive from July 1, 2015 and reporting to Nick Blazquez, President Diageo Africa & Asia. In addition Diageo has announced that Soren Lauridsen will be appointed Managing Director, Guinness Nigeria following a transition with Andy and John during May and June 2015. John O'Keeffe will bring marketing and general management experience to the Diageo Executive. Soren Lauridsen has already joined Diageo and will bring strong leadership skills to his new role in Guinness Nigeria from a career which has taken him from the Nordics to Asia and from Unilever to Carlsberg and now to Diageo.
Diageo plc Announces Interim Management Statement for the Nine Months Ended 31 March 2015
Apr 16 15
Diageo plc announced interim management statement for the nine months ended 31 March 2015. For the nine months, net sales declined 0.3% on an organic basis and were down 0.7% in the quarter, with volume down 1.7% in the nine month period and 0.8% in the quarter. Net sales grew 4.6%. Acquisitions, principally United Spirits Limited, contributed £700 million partially offset by an adverse impact of currency movements of £298 million and a reduction of £28 million due to disposals.
Heineken Concludes a New Three-Year Agreement with Diageo for the Development of the Guinness Beer Brand in Russia
Apr 1 15
Heineken has concluded a new three-year agreement with Diageo for the development of the Guinness beer brand in Russia. The new agreement came into effect on April 1. Heineken has been the importer and distributer of Guinness in Russia for 10 years (the first Russian contract was concluded in 2005). In addition, Heineken in St. Petersburg has the exclusive right to the contract production of Guinness.
Sajjan Jindal Reportedly Eyes Royal Challengers
Mar 10 15
Sajjan Jindal has set his eyes on Royal Challengers Sports Pvt. Ltd. Jindal's acquisition interest is routed through JSW Bengaluru Football Club Private Limited. Vijay Mallya said he was not aware of any JSW offer, reported Times of India. "If there is any such offer in the future I will discuss it with my partner, Diageo plc (LSE:DGE)," he said. Parth Jindal, son of Sajjan Jindal and the one who oversees JSW Sports, said he has no comment to offer on the subject and a spokesperson for United Spirits Limited (BSE:532432) said the company would not comment on speculation, reported Times of India.
Diageo plc Plans to Invest $400 Million in Tequila Don Julio in Mexico
Mar 5 15
Diageo plc announced that it is planning to invest some $400 million (€362 million) over the next five years to boost the production capacity of recently acquired. Through this investment the company expects to create 200 direct jobs and twice as many indirect jobs in three years.