Diageo Plc on Wednesday promoted Anand Kripalu, chief executive officer of United Spirits (USL), to its executive committee, a move that comes weeks after the British liquor giant nearly doubled its stake in the country's largest spirits maker. India is among Diageo’s largest markets and the company said the changes to its executive committee were aimed at enhancing accountability across markets.
Kripalu joins the executive committee along with Sam Fischer, currently managing director, Diageo Greater China. Both appointments, effective September 1, follow the exit of Gilbert Ghostine who was president, Diageo India and Greater China. The 15-member executive committee is the highest decision- making body at the world's largest liquor company, comprising its top executives and region heads.
Diageo mopped up an additional 26% in USL through an open offer earlier this month to take its total stake in the company to 54.78%. It had said it was planning to fully consolidate USL's financial results from 2 July 2014.
"The changes we have announced today signal a further shift in Diageo from an organisation based on regions to one which puts accountability in the markets. In addition they strengthen our executive team and enhance our focus on two key growth markets, China and India, I congratulate Sam and Anand on their promotion to the Executive Committee," said Ivan Menezes, chief executive of Diageo Plc.