US: Diageo details North America exec switch
Diageo will see the US exec changes take effect on 1 September
Diageo has lined up two executive changes in North America, triggered by the departure of the CFO of its unit in the region.
Chris Davies is set to be replaced by Greg Kryder, the current president of Diageo Chateau & Estate Wines (DC&E) in California. Kryder will in turn hand over the reins to Claudia Schubert, GM of the west control states in the US.
Davies will return to the UK “for his next opportunity at Diageo”, the company said, without specifying further. When contacted by just-drinks, a spokesperson for Diageo North America said that Davies' new role is "yet to be announced". The spokesperson declined to detail when this announcement would be made.
The North American changes will take effect from 1 September.
Earlier this year, Diageo's North America president, Ivan Menezes, was promoted to the newly-created role of global chief operating officer. Menezes, who is widely-tipped to become Diageo's next CEO, was replaced by the company's president for the US, Larry Schwartz.
DIAGEO ANNOUNCES CHANGES TO ITS NORTH AMERICA EXECUTIVE TEAM
Norwalk, CT – July 25, 2012
Diageo, the world's leading premium beer, wine and spirits company, announced today the appointment of Greg Kryder as CFO for North America effective September 1. Greg’s appointment comes as Chris Davies, currently CFO for North America, plans to return to the UK for his next opportunity at Diageo.
“Greg brings a distinguished career at Diageo and a deep knowledge of our business and industry, which will make him a great asset in this role,” said Larry Schwartz, President, Diageo North America. “During his time here, Chris has not only ensured we have a pristine balance sheet, but he has also been very central in our continued efforts to form a winning culture in North America and I thank him for his contributions.”
Currently President of Diageo Chateau & Estate Wines (DC&E) in Napa, Greg joined Diageo in 2002, as Vice President of Finance at DC&E in California. In 2005 he was appointed to the role of Senior Vice President, Finance for US Spirits, after which he moved to Paris where he served as the Finance Director for Diageo Continental Europe. He then moved to London to be Finance Director for Diageo Great Britain before returning to the US to run the DC&E business. Greg will report to Larry Schwartz and he will continue to serve on the North America Executive team.
With Greg’s move, Claudia Schubert is appointed to the role of President, Diageo Chateau & Estate Wines effective September 1. Currently General Manager, West Control States, Claudia began her career at the Boston Consulting Group in strategy consulting. She joined Diageo in 2002 as Director, Financial Planning & Analysis for DC&E, reporting to Greg Kryder. In subsequent years, she led wine marketing as Vice President, Marketing & Innovation.
“Claudia has been instrumental in shaping and implementing our new Control States Route-to-Market strategy while delivering strong business results. Most recently, she led the transition of our Washington spirits business from a control to an open state,” said Schwartz. “Claudia’s broad experience combined with her knowledge of the wine business will enable her to effectively lead the DC&E team as we continue our renewed wine strategy.”
Claudia will also serve on the North America Executive team.
Original source: Company release
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