Prepared Foods September 13, 2004 enewsletter

Diageo PLC has announced executive committee changes after creating a new pan-regional organization comprising North America, Europe and International regions.

The newly created Diageo Europe will cover all European countries and territories, including Russia, and will be headed by Andrew Morgan, formerly president of Diageo's venture markets. Diageo Europe accounts for 34% of Diageo's operating profit, making it the second biggest geographic region for the company after North America.

In addition, Diageo has brought together its Africa, Asia Pacific and Latin America groups under one new business unit, Diageo International.

This business unit accounts for 29% of the company's organic operating profit and will be headed by Stuart Fletcher, formerly president of Diageo's key markets.

There is no change to the role or responsibilities of Ivan Menezes, president of Diageo North America.

Ian Meakins, who left the company, will not be directly replaced on Diageo's executive committee. Accordingly, his responsibilities for global supply and information systems will transfer to Diageo's chief financial officer Nick Rose.

The changes will take effect on October 1, the company statement said.