One of the leading figures of the drinks industry is quitting the group he helped turned into an international brand giant.
Paul Walsh will step down as chief executive of Guinness and Smirnoff vodka maker Diageo (LON:DGE) on July 1.
However, he will remain with the group to June 30 next year to manage the handover to new boss Ivan Menezes.
Chairman Franz Humer said: “Paul is an outstanding chief executive.
“He has served our business, its shareholders, employees and partners with enormous imagination and dedication over the past 13 years.
“I know he is justly proud of Diageo and its people and he leaves a great legacy for his successor. The board is immensely grateful for his ambitious and thoughtful stewardship of the business and its people.
“The transition process which has been put in place enables Paul to contribute his knowledge and experience during Ivan's first year as chief executive officer.”