Sir Ivan Menezes, a towering figure in the beverage industry, led Diageo for a decade, during which time he overhauled the company’s portfolio to focus on high-growth premium brands, made a string of stellar acquisitions and championed diversity and inclusion across the company and across the industry. Menezes was a man who combined intellect and human empathy and who saw trends and jumped at them. He had a particular fondness for Johnnie Walker and Guinness. Menezes was knighted for services to business and equality in the 2023 New Year honors list. His colleagues describe Menezes as humble and gracious, the antithesis of a flashy CEO and he will be remembered as a great leader, colleague, and friend to many.
Summary:
When legendary Irish stoutmaker Guinness merged with hotel and catering conglomerate Grand Metropolitan in 1997, Indian-born marketer Ivan Menezes was the man tasked with integrating the two companies. The result of the merger was Diageo, the premium drinks giant behind Johnnie Walker whiskey, Tanqueray gin, and Smirnoff vodka. Menezes’ tenure got off to a rocky start as Diageo sold less profitable parts of the business and struggled to increase sales in the United States and emerging markets. But the focus on premium brands like Johnnie Walker and Guinness has paid off. Over the past decade, Diageo’s share price has doubled. Menezes propelled growth with a series of high-profile acquisitions such as Don Julio Tequila in 2015 and George Clooney’s Casamigos Tequila, which he acquired in 2017 in a $1 billion deal. The purchase was met with skepticism at the time, but proved to be a success. Casamigos was the fastest growing tequila brand in the US at the end of 2022 and Diageo is now the number one tequila player globally. Menezes has done a lot to bring young people from disadvantaged backgrounds into Scottish industry through Movement to Work, a collaboration of companies committed to tackling youth unemployment. Menezes was very sensitive to diversity and pushed for greater internal inclusion: over 40% of Diageo’s global leadership positions are held by women, while 37% are ethnically diverse.
Additional piece:
Sir Ivan Menezes was more than just a beverage industry leader. He was a man who combined intellect and human empathy, recognizing the importance of diversity, inclusion, and responsible drinking in the alcohol industry. Under his leadership, Diageo focused on high-growth premium brands, made strategic acquisitions, and invested in Scotch whiskey, re-opening two long-closed “ghost distilleries” in Brora and Port Ellen as well as a Johnnie Walker visitor experience in Edinburgh. But Menezes’ impact was not limited to the beverage industry. He recognized the need to tackle youth unemployment and was a champion for young people from disadvantaged backgrounds. Through Movement to Work, a collaboration of companies committed to this cause, he provided opportunities and pathways for success.
Menezes was also a humble and gracious man, who was approachable and ate in the staff cafeteria at Diageo’s London headquarters. Despite his success, he remained grounded and sought to share his wisdom with others, demonstrating his commitment to kindness, generosity, and leadership.
Menezes’ legacy will continue to influence the beverage industry and beyond. As the global community continues to grapple with complex challenges such as youth unemployment, diversity, inclusion, and responsible drinking, his vision for a better future provides a blueprint for success. Through strategic leadership, investment, and collaborations that prioritize people and the planet, we can achieve positive change and build a better world.
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When legendary Irish stoutmaker Guinness merged with hotel and catering conglomerate Grand Metropolitan in 1997, Indian-born marketer Ivan Menezes was the man tasked with integrating the two companies and their stable of disparate brands. The result of the merger was Diageo, the premium drinks giant behind Johnnie Walker whiskey, Tanqueray gin and Smirnoff vodka.
Sir Ivan Menezes, who died aged 63, was a towering figure in the beverage industry. He led Diageo for a decade, during which time he overhauled the company’s portfolio to focus on high-growth premium brands, made a string of stellar acquisitions and championed diversity and inclusion across the company and across the industry.
Paul Walsh, whom Menezes succeeded as CEO in 2013, and who had worked with him since Diageo’s inception, described him as a man who combines intellect and human empathy. “To be successful at that level obviously he had the diamonds, but he also had the human touch. He saw trends and jumped at them,” said Walsh, now chairman of McLaren, the supercar and racing group. “He wasn’t afraid to challenge the things that previous leadership had put in place.”
Ivan Menez was born in 1959 in Pune, Western India. He attended St Mary’s School in Mount Abu, followed by St. Stephen’s College, Delhi University, where he studied economics and mathematics and met his wife, Shibani. He then completed a postgraduate diploma in management from the Indian Institute of Management, Ahmedabad.
The beverage boss began his career at Nestle in India in the early 1980s, leaving to pursue an additional postgraduate degree in marketing and finance at the JL Kellogg School of Management in Illinois. He was hired as a management consultant by Booz Allen Hamilton in 1985, before joining Whirlpool Corporation as vice president, group marketing. Following the merger that he created DiageoMenezes held a number of senior roles at the beverage maker before being named chief executive officer in 2013.
Menezes’ tenure got off to a rocky start as Diageo sold less profitable parts of the business and struggled to increase sales in the United States and emerging markets. The group made a large £191m loss when it divested a large part of its wine business in 2015. But the focus on premium brands like Johnnie Walker and Guinness has paid off. Over the past decade, Diageo’s share price has doubled.
As Menezes’ leadership progressed, he propelled growth with a series of high-profile acquisitions such as Don Julio Tequila in 2015 and George Clooney’s Casamigos Tequila, which he acquired in 2017 in a $1 billion deal. The purchase was met with skepticism at the time, but proved to be a success. Casamigos was the fastest growing tequila brand in the US at the end of 2022 and Diageo is now the number one tequila player globally.
Menezes couldn’t pick a favorite tipple, his colleagues said, but he had a particular fondness for Johnnie Walker and Guinness. He has rarely been seen without a pin, whether from the Guinness badge or Johnnie Walker’s Strider. The father of two had “a huge sentimental attachment” to Guinness, said Trevor Stirling, an analyst at Bernstein, who also worked with Menezes early in his career.
Longtime board member and future chairman of the Scotch Whiskey Association, Menezes has invested more than £1bn in Scotch whisky, reopening two long-closed shops “ghost distilleries” in Brora and Port Ellenas well as a Johnnie Walker visitor experience in Edinburgh.
Karen Betts, chief executive of the Food and Drink Federation and former head of the Scotch Whiskey Association, said: “What really changed during his time was responsible drinking. He was a big advocate and understood that the alcohol industry needed to take responsible drinking seriously in order to survive. Diageo’s commitment to this is in line with its long-term premiumisation strategy, designed to encourage consumers to ‘drink better, not more’.
Betts added that Menezes has done a lot to bring young people from disadvantaged backgrounds into Scottish industry through Movement to Work, a collaboration of companies committed to tackling youth unemployment. Menezes was very sensitive to diversity and pushed for greater internal inclusion: over 40% of Diageo’s global leadership positions are held by women, while 37% are ethnically diverse.
Colleagues at Diageo and across the industry describe Menezes as humble and gracious, the antithesis of a flashy CEO. When he worked from the London headquarters, he ate in the staff cafeteria and sat down to chat with employees during his lunch break.
Menezes was also an avid cricket fan and a prolific theater-goer, attending plays with his wife up to twice a week when he was in London. He was knighted for services to business and equality in the 2023 New Year honors list.
Unilever chief executive Alan Jope said when he was first appointed, Menezes sought to share his wisdom. “It was a typically kind and generous act from a true gentleman and leader. Useless but deeply valuable and appreciated.
“She was extremely approachable, had a joyful life, a sense of energy and optimism,” said Diageo president Javier Ferrán. “We have lost a great leader and an outstanding colleague, and a dear friend to many of us.”
https://www.ft.com/content/fc97656b-22a4-4c4d-9174-cc42fe814852
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