Ferrán has acted as founding partner at Lion Capital since 2005 and previously spent more than 10 years at Bacardi, latterly serving as president and CEO.

He is also currently non-executive director at SAB Miller, Associated British Foods and Desigual, and a member of the advisory board of Agrolimen and the ESADE Business School. Ferrán will not seek re-election to the board of SAB Miller at the firm’s AGM on 21 July 2016.

The businessman will join Diageo as a non-executive director from 22 July 2016 and will be appointed chairman on 1 January 2017 following the retirement of Humer.

Diageo confirmed that a search was underway to replace Dr Humer as chairman in April this year, following initial speculation in December 2015.

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.

`I am very pleased to welcome Javier to the Diageo board. He brings a wealth of experience to the role of chairman,` said Ivan Menezes, CEO of Diageo.

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