Diageo's CFO to step down

11 May, 2010

Diageo’s chief financial officer is to step down. Nick Rose will stand down from the board at the company’s AGM on 14 October 2010.

Deirdre Mahlan, currently Diageo’s deputy finance director, will replace Rose on the board as CFO.  Rose will remain with Diageo until the end of December 2010.

Diageo chief executive Paul Walsh said: “Nick has made the decision to leave Diageo after eighteen very successful years. During that time he has made a major contribution to Diageo for which he has my thanks, admiration and respect. He is an exceptional colleague and I know that the board and all those who have worked with, and for, Nick share this view.   Over the last thirteen years as CFO he has built a very strong finance function of which he and Diageo can be proud.  One of the strengths of this function is its talent and I know that Nick is delighted that his successor can be an internal appointment.

“Deirdre joined Diageo having worked for the Seagram Company since 1992. She has held a number of senior finance positions in Diageo including finance director of our biggest region, North America, and as global head of tax, of treasury and of shared services. During this time Deirdre demonstrated to the board that she has the ability to be Diageo’s chief financial officer and today I am delighted to announce her appointment. Deirdre will make a significant contribution to the finance function and to the board and I and my colleagues look forward to working with Deirdre in her new role.”


Nick Strangeway

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