Diageo announced yesterday that Paul Clinton, its president and CEO of the North American division, has decided to leave the business for personal reasons.

Ivan Menezes,  chief operating officer Diageo North America, will succeed him. The change will be effective 1 January 2004.

Announcing the change, Diageo CEO Paul Walsh said: "Paul Clinton has made a major contribution to the development of Diageo North America. He is a colleague for whom I have the utmost respect and regard. As we indicated at the time of his appointment in July 2002, Ivan Menezes will succeed Paul as President and CEO, Diageo North America. Over the past year Ivan has played a vital role in developing all of the initiatives which have reshaped our North American business. He and Paul have been an excellent team and that close collaboration guarantees a smooth transition."