DAVE EICKHOLT STEPS DOWN FROM DIAGEO-GUINNESS USA
DAVE EICKHOLT STEPS DOWN FROM GUINNESS. Ivan Menezes, president and CEO of Diageo North America announced today that Jim Young has been appointed president, Diageo-Guinness USA. He takes over for Dave Eickholt who has decided to retire effective December 31, 2006 after 28 years with the company.
Young, currently acting Joint Managing Director for Diageo Great Britain, will transition to his new position effective September 15th reporting directly to Menezes. In this role, he will have full responsibility for the growth and development of Diageo's beer and Flavored Malt Beverage portfolio in the United States. Young will also serve on the Diageo North America Executive team.
It looks like Diageo is planning to hold on to its beer business. “Total beverage alcohol is important and it’s here to stay,” said chief Paul Walsh to investors who are, and have always been, wondering when or where Diageo is selling off its beer business (Guinness, Red Stripe, among others). Diageo is committed to bringing a comprehensive portfolio to retailers that includes spirits, more wine, and even beer, so don’t look for a sale anytime soon. Guinness sales are up 7% in the first half in the US. In fact, look for Diageo to acquire more wine brands if and when they become available, and maybe even a beer brand.
SPEAKING OF WINE. Anheuser-Busch president August A. Busch again alluded to rumors that A-B will soon be in the wine and spirits segment during a talk at the Prudential Consumer Conference on Wednesday. “We will not be constrained by alcohol source, or alcohol concentration,” he said. Spykes distribution and Jekyll & Hyde tests are being expanded.
Young, currently acting Joint Managing Director for Diageo Great Britain, will transition to his new position effective September 15th reporting directly to Menezes. In this role, he will have full responsibility for the growth and development of Diageo's beer and Flavored Malt Beverage portfolio in the United States. Young will also serve on the Diageo North America Executive team.
It looks like Diageo is planning to hold on to its beer business. “Total beverage alcohol is important and it’s here to stay,” said chief Paul Walsh to investors who are, and have always been, wondering when or where Diageo is selling off its beer business (Guinness, Red Stripe, among others). Diageo is committed to bringing a comprehensive portfolio to retailers that includes spirits, more wine, and even beer, so don’t look for a sale anytime soon. Guinness sales are up 7% in the first half in the US. In fact, look for Diageo to acquire more wine brands if and when they become available, and maybe even a beer brand.
SPEAKING OF WINE. Anheuser-Busch president August A. Busch again alluded to rumors that A-B will soon be in the wine and spirits segment during a talk at the Prudential Consumer Conference on Wednesday. “We will not be constrained by alcohol source, or alcohol concentration,” he said. Spykes distribution and Jekyll & Hyde tests are being expanded.
posted at 9:03 AM
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