Paul Walsh Hands Reins to Ivan Menezes

Dear Client: In a move that was widely anticipated, Diageo has announced that ceo Paul Walsh is stepping down after 13 years with the company. Coo Ivan Menezes will succeed him, effective July 1. Paul will stay on at Diageo for another year to support Ivan in the transition. "[Mr. Walsh] has served our business, its shareholders, employees and partners with enormous imagination and dedication over the past 13 years," says chairman Franz B. Humer. "I know he is justly