By Saabira Chaudhuri

Diageo PLC (DEO) has named the former chief executive of Bacardi Ltd., Javier Ferran, to be its next chairman starting next year, replacing Franz Humer.

Mr. Ferran is a founding partner of consumer-focused U.K. private-equity firm Lion Capital. Prior to that he spent over 10 years at Bacardi.

Mr. Ferran is currently a board member of SABMiller PLC (SAB.JO), the world's second-largest brewer, and also serves on the board of Associated British Foods PLC (ABF.LN), which owns the retail chain Primark, and of fashion brand Desigual.

His appointment comes as Diageo has been battling slumping sales in the U.S., its largest market, and like many other multinational companies with operations in emerging markets has been grappling with the impact of volatile currencies.

Write to Saabira Chaudhuri at saabira.chaudhuri@wsj.com

(END) Dow Jones Newswires

May 18, 2016 09:38 ET (13:38 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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