Diageo Australia MD Tim Salt resigns

Diageo has confirmed that the managing director of its Australian arm has resigned from his post to “pursue other opportunities”.

Diageo Australia’s MD Tim Salt has resigned from the company after seven years

Tim Salt, who has led the Diageo Australia business for seven years, will step down at the end of this month.

“Tim joined our Australia business at a time when the industry was particularly challenged with the introduction of the RTD tax and decreasing volumes, alongside a volatile external environment,” said Sam Fisher, president of Greater China and Asia, Diageo.

“Over the last seven years, Tim has created a business which is recognised for strong, resilient, sustainable performance, both internally and externally.

“Tim has developed and built a team of strong and capable leaders, many of whom have gone on to broader and bigger opportunities and he leaves the Australia business in great hands.”

Salt also served as chair and board member of Distilled Spirits Industry Council of Australia and the DrinkWise board respectively.

Diageo has not yet announced his who will replace him as MD of Diageo Australia.

“I have had seven wonderful years at the helm of Diageo Australia and I remain truly grateful to have led such a great business,” said Salt.

“The time has come for me to pursue new opportunities and for others to bring a new perspective and energy to take the Diageo Australia business to the next level.

“Very few industries have sociability, celebration, enjoyment and passion at its core like the alcohol industry does. I feel enormously privileged to have been a part of this great industry and to know and have worked with so many great people.”

Salt’s resignation follows news that Diageo’s president of North America, Larry Schwartz, is to retire at the end of the calendar year.