Diageo’s recent acquisition of premium rum company Don Papa Rum and the news its CEO will retire this summer have been welcomed by the market, with its share price rising 3.8% in March alone, according to data from Morningstar.
Ivan Menezes will retire at the end of June after a decade at the helm of the beverage giant, passing the baton to current chief operating officer Debra Crew. Analysts and fund managers alike responded positively to the change in senior leadership, with several quoting Crew's track record heading the company's North American operation, as well as her previous experience at PepsiCo, Mars, Kraft Foods and Nestle. Stock Spotlight: Air travel resurgence fuels Rolls-Royce while ESG concerns persist As the CEO change is an internal appointment, managers were not concerned about the succe...
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