DGE Diageo Plc

RNS No 6207v DIAGEO PLC 4 May 1999 
                Board Announcements at Diageo
                               Diageo today makes the following announcements
concerning the composition of the Board: Tony Greener will retire both as
Chairman and as a director of Diageo on 30th June 2000 as he originally
intended, and John McGrath will retire both as Group CEO and as a director on
31st December 2000. Phil Yea, Group Finance Director, has informed the Board
that he has decided to leave the company after six years as Finance Director
first at Guinness and then Diageo. He will be leaving the Board and his role as
Group Finance Director on 30th June 1999. Nick Rose, currently Finance Director
of UDV, the spirits and wine business of Diageo, will become Group Finance
Director from 1st July 1999 and will join the Board on 23rd June 1999. Bill
Shanahan will join the Board as a non-executive director with immediate effect. 
He is currently President and Chief Operating Officer of the Colgate Palmolive
Company. Peter Job, Chief Executive of Reuters Group, has asked to step down
from the Board on 23rd June 1999, after 5 1/2 years on the Board of first
GrandMet and then Diageo. Commenting on these announcements, Chairman Tony
Greener said: "We are committed to a seamless transition to the future Diageo
management team.  As part of this process, John and I are separating our
retirement dates by six months, to ensure stability and continuity throughout.  
During this period, we and the Diageo Executive will continue to drive the
business forward with the aim of being in the top 5 of our peer group by
December 2002. We understand Phil Yea's decision to leave the company after six
years as Finance Director, first with Guinness and then at Diageo.  He made an
outstanding contribution at Guinness where he and I worked closely together.  He
has also been one of the key architects of Diageo, during the merger itself and
subsequently in establishing the new Company.  He will leave behind him a
talented and well-organised Finance function, as evidenced by the appointment of
his successor from within.  While naturally we regret his decision to leave the
company, we wish him every success for the future. We are very pleased to
welcome Nick Rose to the Board as the new Group Finance Director.  He is
currently Finance Director of UDV, where he has played a major part in the
formation of the new spirits and wine business, establishing the new finance
function whilst also being responsible for global procurement and the Pacific
region.  I am sure that Nick will make a significant contribution to the Diageo
Board. I would like to thank Peter Job for the major contribution he has made
over a number of years, both to the Board of GrandMet and to the Board of Diageo
during the merger.  At the same time, I am delighted to welcome Bill Shanahan,
as a non-executive director.  His proven track record with one of the world's
leading consumer goods companies, and his knowledge of the US and international
markets, will be of great value to the Board. Diageo has a group of highly
talented non-executive directors, four of whom have been appointed in the last
year.  For the future, they will bring both continuity and the benefit of their
wide-ranging experience to the Board." Notes to Editors The Board structure of
Diageo from 1st July 1999 will be: Executive Directors Tony Greener, Chairman
John McGrath, Group CEO Jack Keenan, CEO, UDV Dennis Malamatinas, CEO, Burger
King Corporation Nick Rose, Group Finance Director Colin Storm, Chief Executive,
Guinness Ltd Paul Walsh, CEO, The Pillsbury Company Non-Executive Directors
Robert Wilson, Chairman of Rio Tinto Lord Blyth, Chairman of The Boots Company
Sir George Bull, Chairman of J Sainsbury Rodney Chase, Deputy Chief Executive of
BP Amoco Keith Oates Bill Shanahan, President and Chief Operating Officer,
Colgate-Palmolive Company Nick Rose Nick Rose was born in Norwich in 1957 and
educated at Worcester College, Oxford where he obtained his MA in Chemistry.  He
joined the Ford Finance function directly from Oxford and held a number of
senior finance positions during the next 11 years in the "traditional" finance
areas (budgeting, investment appraisal, and financial planning), as well as in
strategic planning and treasury. He was actively involved in the acquisition of
Hertz Renta-Car and Jaguar.  He spent three years in Detroit at the world
headquarters and his experience included management of Ford's $5 billion
liquidity portfolio, responsibility for corporate funding, capital structuring
and a spell in the Investor Relations department. Nick joined Grand Metropolitan
PLC in June 1992 as Group Treasurer, and since then he has held a number of
increasingly senior finance roles. In June 1995, he accepted the position of
Group Controller of Grand Metropolitan with responsibility for Financial
Planning and Analysis, Group Accounting and Internal Audit. In November 1996
Nick joined the IDV Board as Finance Director and was subsequently appointed as
Finance Director for UDV.  Over the course of the last year, he also assumed
responsibility for UDV's Global Procurement Group and line responsibility for
the Pacific Region. Further information: Catherine James      Investor          
0171 927 5272
                     Relations Murray Loake         Media Relations    0171 927
5967 END BOAALLIFEAISIAA 

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