UK: Diageo appoints ex-co CEO of Kraft to board

By just-drinks.com editorial team | 27 August 2009

Global drinks giant Diageo has appointed ex-co-CEO of Kraft Foods Betsy Holden to its board.

Holden, currently a senior advisor to McKinsey & Company with a focus on strategy, marketing and innovation, will take up her role on 1 September, the drinks group announced today (27 August).

Previously having held senior roles at Kraft Foods, including co-CEO of Kraft Foods and CEO of Kraft Foods North America, Holden has over 25 years of experience in consumer goods.

Commenting on the appointment, Diageo chairman Dr Franz Humer said: "Betsy's long career as a leader in the consumer goods industry internationally and in the US will be a great asset to Diageo. I look forward to welcoming her to the board."

Today, Diageo warned of a tough 2010 after cost savings helped the drinks giant to hit guidance in its fiscal full-year, despite flat like-for-like sales and a fall in pre-tax profits.

Net sales for the 12 months to the end of June were flat against the year before on a like-for-like basis, with like-for-like volume sales down 4%, as the global economic downturn put the stoppers on growth.

Sectors: Beer & cider, Spirits, Wine

Companies: Diageo