An Update on Guinness

November 22, 2013 Dear Client: Diageo Global Head of Innovation, Beer and Baileys John O'Keeffe presented the plan to reignite Guinness growth to investors and more earlier this week. First he addressed beer's value to their portfolio. "Beer is a very large category," said John, at about 2 billion hectolitres and growing at roughly 1.5% CAGR over the last five years, driven by premiumization and emerging markets." They are a "relatively small player" against that background, "13th in terms of