Diageo confirms search is on for new chairman

Diageo has confirmed that its chairman Franz Humer is preparing to step down from the company, with a search for his successor currently underway.

Franz Humer is preparing to step down as chairman of the world’s largest drinks group Diageo

Speculation about Humer’s departure started in December last year when reports revealed that Diageo had hired a leading boardroom headhunter JCA Group to find a non-executive director with the necessary skills to replace its chairman.

Humer has been chairman of Diageo since 2008 and has sat on the Johnnie Walker maker’s non-executive board since 2005. He previously ran healthcare company La Roche.

In Diageo’s annual report, it was explained that Humer’s tenure as chairman will come to an end in June 2016.

A spokesperson for the firm said: “Dr Humer has been our esteemed chairman for eight years guiding the company to the leadership position we have today.

“As a matter of good governance process, the board has clearly started to think about succession and a process is underway. At the appropriate time we will announce our plans for succession.”