Diageo has bolstered its board with a Procter & Gamble stalwart as it forges ahead with a major cost-cutting drive.
The Scotch whisky giant has appointed Alex Keith, most recently chief executive of the consumer goods giant’s beauty business, as a non-executive director.
Ms Keith, who first joined P&G in 1989, was credited with driving “meaningful growth through innovation, portfolio development, strategic acquisitions and organisational transformation” in her time at the helm of “one of the world’s leading beauty portfolios”.
She was hailed by Diageo as an “accomplished global business leader with more than 35 years of international consumer goods experience”.
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Her appointment by Diageo comes shortly after the boss of the FTSE-100 drinks giant, former Unilever chief Sir Dave Lewis, unveiled a strategy to take out $1 billion of operating costs over the next three years. The plan, which will redesign Diageo’s operating framework, will result in a still-to-be-determined number of job cuts at distilleries in Scotland.
Diageo said Ms Keith, who has served as a non-executive director of Thermo Fisher Scientific since 2020, brings “extensive international leadership experience across North America, Europe and Asia, with expertise spanning general management, consumer products, brand building, supply chain and enterprise leadership”.
The company added in a statement to the stock market: “She has a strong track record of building global brands, scaling complex businesses and creating long-term shareholder value through innovation, disciplined execution and portfolio strategy.”
Sir John Manzoni, chairman of Diageo, said: “I am delighted Alex has agreed to join the Diageo board. She brings recent chief executive experience in the consumer goods industry, leading and transforming branded businesses, and shaping portfolios to respond to consumer trends, including in the US.
“We are looking forward to welcoming Alex to the board, as part of our continuing process to build out the expertise of the Diageo board to help drive the transformation and improved competitiveness of the business.”
The company said that Ms Keith will join the board on November 5, subject to the approval of shareholders at its annual general meeting that day, and will become a member of its remuneration and nomination committees from the same date.
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