Paul Walsh former Diageo CEO appointed to USL Board
August 29, 2013: Diageo announced early last week that former CEO Paul Walsh (pictured, left) has been appointed as an additional director of United Spirits Limited along with Vikram Singh Mehta, who joins as an independent director of the company.
This came after Vijay Mallya and several other high profile directors, such as chief executive John Beard and director Ayani Nedungadi resigned from the board with immediate effect.
Diageo has been involved in a deal to buy United Spirits from Mallya for several years. Its latest offer in May 2013 to buy a 26% stake in USL was turned down by shareholders. See previous note.
Although Walsh has resigned as CEO of Diageo, he will still be involved with the company, as his United Spirits role will run alongside his role within the company's Scotch whisky business, which was also announced last week, stated a news report in thedrinksbusiness.com
Mehta brings over 35 years of experience in Indian business, in particular within the oil industry and is also a member of the boards of Colgate Palmolive India Limited, Mahindra & Mahindra and Vodafone India Limited, as well as Larsen & Toubro.