Drop in Latin American drinking prompts Diageo to issue profits warning

Posted on November 10, 2023 by Admin

Shares fall in world’s largest spririts company as consumers seek cheaper brands

The Guinness to Johnnie Walker drinks maker Diageo has issued a profit warning as a result of cash-strapped customers in Latin America and the Caribbean consuming less alcohol and seeking cheaper brands.

Shares in the world’s largest spirits company plunged more than 11% in early trading on Friday, making it the biggest faller in the FTSE 100, as investors worried that the trend in the region might spread to other markets.

Diageo appoints Debra Crew as its first female chief executive

Posted on March 28, 2023 by Admin

Former chief operating officer to be one of fewer than 10 women leading FTSE 100 companies

The world’s biggest spirits maker, Diageo, has appointed Debra Crew as chief executive, one of few women to lead a FTSE 100 company.

The company, which makes well-known brands including Johnnie Walker scotch whisky, Guinness and Baileys, announced that Sir Ivan Menezes would step down on 30 June after 10 years as chief executive. It decided to promote Crew from chief operating officer to the top job, effective from 1 July.

Government urged to ‘get a handle’ on supply chain crisis

Posted on September 2, 2021 by Admin

Chair of commission scrutinising post-Brexit trade deals says ministers must act now to get shelves stocked for Christmas

The government is being urged to “get a handle” on the supply chain crisis, as the chair of a cross-party commission created to scrutinise the UK’s post-Brexit trade deals said ministers need to act now to avoid empty shelves in the run-up to Christmas.

“Red tape and labour shortages from Brexit have exacerbated problems that are being acutely felt across production, processing, manufacturing, retail and of course logistics,” said Aodhán Connolly, who chaired an extraordinary session of the UK Trade and Business Commission, a group of cross-party MPs and business representatives set up as an independent adviser to government in April.

Coronavirus: Lufthansa imposes hiring freeze as Diageo profits suffer

Posted on February 26, 2020 by Admin

Airline offers unpaid leave, beverage firm fears £200m hit and Danone also voices concern

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Lufthansa has announced a hiring freeze and is offering employees unpaid leave as part of a range of cost-saving measures to attempt to limit the financial impact of the spread of the coronavirus.

The German airline, which has already cancelled all flights to China until the end of March, also said it will expand part-time work options and cancel flight attendant and other personnel training courses from April onwards. Those that are already on courses will not be hired. The company said it aimed to offer affected trainees “employment contracts in the long term”.