UK: Diageo forms Asia Pacific regional unit
Diageo has shaken up its geographical divisions, creating a fourth region.
The drinks giant, which realigned its markets geographically in 2004, said today (17 January) that it has created the Diageo Asia Pacific region, which will bring together the current Diageo International hub organisations in Asia, Greater China and Australia under a single regional executive committee. This committee will be led by John Pollaers, formerly managing director of Diageo Asia, who will assume the new position of president, Asia Pacific.
The change takes effect from 1 February, which is also the date when Pollaers will join Diageo's executive committee.
Diageo's International region - comprising of Africa, Latin America & Caribbean and Global Travel & Middle East hubs - will continue to be led by Stuart Fletcher, president, International.
"The creation of Asia Pacific builds on the performance delivered by the International region, which under Stuart Fletcher's leadership, has become a key engine of growth for Diageo," said company CEO Paul Walsh. "We believe this reconfigured organisation gives us a better platform from which to deliver our significant top and bottom line growth expectations. It enables us to leverage the potential of our competitive position in all markets of Asia Pacific but also to build on our existing strong performance in Africa, Latin America & Caribbean, and Global Travel & Middle East hubs."
In 2004, Diageo aligned its markets regionally, creating three units - North America, Europe and International. The latter brought together Diageo's Africa, Asia Pacific and Latin America markets and, for the year to 30 June 2006, accounted for 29% of the company's organic operating profit.
Diageo is due to announce its interim figures on 15 February.
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