| Diageo plc | |
|---|---|
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| Type | Public (LSE: DGE NYSE: DEO) |
| Founded | 1997 |
| Headquarters | London, England, UK |
| Key people | Chairman Lord Blyth of Rowington CEO Paul Walsh |
| Industry | Beverages |
| Products | Alcoholic beverages: Beer, Wine, Whiskey |
| Revenue | £7,260 million (2006) |
| Operating income | £2,044 million (2006) |
| Net income | £1,965 million (2006) |
| Employees | 22,333 |
| Slogan | Celebrating Life, Everyday, Everywhere |
| Website | http://www.diageo.com |
Diageo plc (LSE: DGE, NYSE: DEO) is the largest multinational beer, wine and spirits company in the world. The company was formed in 1997 from the merger of Guinness plc and Grand Metropolitan plc and is listed on the London Stock Exchange and has American Depositary Receipts listed on the New York Stock Exchange. The word Diageo was made up from the Latin dia (Day) and the Greek geo (World) and was meant to symbolise the company producing products that are consumed every day throughout the world. The product portfolios of Guinness and GrandMet were largely complementary, with little overlap.
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Brands
Diageo is the holding company for some of the leading international alcoholic beverage brands including, to give a few of the best known brands:
- Beer: Guinness, Smithwick's, Red Stripe, Harp Lager, Kilkenny
- Scotch whisky: Johnnie Walker, J&B, Bells, Black & White, Vat 69, Oban, Talisker, Lagavulin, Glenkinchie, Dalwhinnie, Cragganmore
- Vodka: Smirnoff, Cîroc, Popov
- Gin: Gordon's, Tanqueray, Gilbey's, Pirate Island Gin
- Rum: Captain Morgan, Bundaberg
- Bourbon: Bulleit
- Canadian whisky: Crown Royal, VO
- Irish whiskey: Bushmills
- American whiskey: George Dickel
- Tequila: Don Julio
- Mixed drinks: Archers, Pimm's
- Liqueur: Baileys, Yukon Jack
- Wines: Sterling Vineyards, Piat d'Or, Justerini & Brooks, Barton & Guestier, Beaulieu Vineyard, Blossom Hill
Diageo operates the Scotch whisky distilleries of Blair Athol, Caol Ila, Cardhu, Knockando, Glen Elgin, Clynelish, Cragganmore, Dalwhinnie, Glenkinchie, Glen Ord, Lagavulin, Oban, Royal Lochnagar, Talisker, Mannochmore and Glenlossie, which are sold not only under their own name but used to make the various blended scotch whiskies sold by the company. Diageo also distributes Jose Cuervo tequila products. In 2002, Diageo sold the Burger King fast food restaurant chain to a consortium led by the US firm Texas Pacific for $1.5 billion. Diageo also owned Pillsbury until 2000 when it was sold to General Mills.
Cardhu controversy
In December 2003, Diageo provoked controversy over its decision to change its Cardhu brand Scotch whisky from a single malt to a vatted malt (also known as a pure malt) whilst retaining the original name and bottle style. Diageo took this action because it did not have sufficient reserves to meet demand in the Spanish market, where Cardhu had been successful. After a meeting of producers, Diageo agreed to make changes. As of 2006, the brand of Cardhu has quietly changed back to being a single malt.[1].
Corporate governance
Current members of the board of directors of Diageo are: James Blyth, Clive Hollick, Franz Humer, Maria Lilja, Nick Rose, William Shanahan, Todd Stitzer, Jon Symonds, Paul Walker, and Paul Walsh.
