UK: Diageo chairman confirms retirement

The chairman of Diageo has announced his retirement.

The drinks giant confirmed today (19 July) that Lord (James) Blyth of Rowington will retire on 1 July next year. Lord Blyth will remain in the position until then, and will be succeeded by Dr Franz Humer, who will assume the position once he retires from his current role as chief executive of F. Hoffmann-La Roche in March.

"Franz has a first class track record with considerable experience of international business in both mature and developing markets," said Lord Blyth. "He has been a non-executive director of Diageo for two years and during this time he has demonstrated to the whole board the qualities that will allow him to be a very successful chairman of Diageo.'

Paul Walsh, Diageo's chief executive, added: "I would like to thank James Blyth for his commitment to Diageo over the last eight years. During that time we have made considerable progress in building Diageo's position as the world's leading premium drinks business and I thank James for the significant contribution he has made to that.

"I look forward to working with Franz Humer. We have a shared view in Diageo's ability to develop as a truly sustainable global business through the delivery of continued commercial success; enhancing our financial strength and making further progress against our social and environmental policy commitments."