UK: Diageo appoints Lord Mervyn Davies to board
Diageo has appointed Lord Mervyn Davies of Abersoch to its board effective 1 September 2010.
He is to be appointed as a non-executive director and his responsibilities will include membership of the Audit, the Nomination and the Remuneration Committees.
Lord Davies was previously Minister for Trade, Investment and Small Business for the UK Government between January 2009 and May 2010. Prior to this role, Lord Davies was chairman of Standard Chartered PLC, the financial services company with leading positions in Asia, Africa and the Middle East and for which he was also Group chief executive from 2001 until 2006. He was a non-executive director at Tesco PLC from 2003 to 2008.
Diageo chairman Dr Franz Humer said: "Lord Davies has experience of building leading businesses in dynamic developing markets, as well as insight into the UK's business environment. For a UK company with a global business, his perspective and expertise will be of great benefit to Diageo and I look forward to welcoming him to the board."
Diageo's results last week spelt out one strong message, as far as M&A nut Richard Woodard is concerned. Let's watch him clap his hands and jump up and down as he tells us what he heard....
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