Diageo comes from the Latin for day (Dia) and the Greek for world (Geo) Diageo is a global alcoholic beverage company headquartered in London, United Kingdom. It is the world's largest producer of spirits and a major producer of beer and wine. Their mission statement is “Our strategy is to drive organic growth in premium drinks. We will invest to take leadership positions in every category, market and consumer occasion in which we choose to compete” (Diageo, 2011). Diageo's brands include Smirnoff (the world's best-selling vodka), Johnnie Walker (the world's best-selling Scotch whisky), Baileys (the world's best-selling liqueur) and Guinness (the world's best-selling stout). It is also the exclusive international distributor of José Cuervo (the world's best-selling tequila) and owns 34% of Moët Hennessy, which owns brands including Moët & Chandon, Veuve Clicquot and Hennessy. The Company also brews and sells other companies’ beer brands under licensing, including Budweiser and Carlsberg lagers in Ireland, Heineken lager in Jamaica and Tiger beer in Malaysia. It sells its products in over 180 countries and has offices in 80 countries. Diageo has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It has a secondary listing on New York Stock Exchange under the symbol DEO.
Diageo was formed in 1997 from the merger of Guinness and Grand Metropolitan. The creation was driven by the two executives Anthony Greener and Philip Yea at Guinness plus George Bull and John McGrath of Grand Metropolitan. Since the start of this company in 1997 they have experienced much grow and added products to their product mix through acquisitions and licensing. They had a brief time in the food market but that ended in 2005 with Diageo selling its final stakes in General Mills making their exit from the food market. In 2002, Diageo sold the Burger King fast food restaurant chain to a consortium led by US firm Texas Pacific for $1.5 billion. Diageo also owned Pillsbury until 2000 when it was sold to General Mills. The Company competes with Pernod Ricard, Bacardi, Fortune Brands, Brown-Forman, Heineken, SABMiller, Coors Brewing, Carlsberg Anheuser-Busch, Brown-Forman Corporation, and Davide Campari-Milano Co.
As June 30th, 2011 Diageo have over 20,000 employees worldwide in 80 countries. They have many brands across the beer, wine and spirits market with such brands being involved in 180 markets around the world. As of June 30th, 2011 they have made 15 billion dollars in sales with 4.6 billion dollars in revenue. During the fiscal year ended June 30, 2009, Diageo sold 113.4 million equivalent units of spirits , 24.7 million equivalent units of beer and 3.2 million equivalent units of wine. The corporate governance of Diageo consists of the typical board of governors but also has three sub committees. The committees are titled as such, Remuneration Committee, Nomination Committee, and the Audit Committee.
In regards to outside relationships Diageo seeks and benefits from diverse people and perspectives. They strive to create mutually fulfilling relationships and partnerships. Diageo has great relationships with their employees as well. They believe that the unique skills, diversity and hard work of their people should be celebrated and rewarded. But because they have operations across the world, there are a number of different benefit packages. They offer competitive salaries that take account of the markets they operate in and reflect the experience, performance and contribution of their employees. “This alcoholic beverage company made alternative work arrangements far more available to its employees in 2010, after it gave all of them new computers with instant messaging and video-conferencing...” (Working Mother Magazine, 2011) The Diageo lifestyle is all about ways to celebrate life and achievement. So for example, they offer a generous core annual leave entitlement in addition to statutory...
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