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Menezes will take over from 1 July.

Walsh will retire from the company on June 30 2014 and will spend the period before he leaves ensuring a smooth transition.

Menezes began his career in various marketing roles at Nestlé and at the consultancy firm Booz Allen & Hamilton.

He joined Diageo in 1997 and has held various senior management roles at Guinness, including at group level, before he was appointed president of Diageo venture marketers, a division of the drinks giant which has direct responsibility for operations in more than 120 countries.

Prior to his appointment as chief operating officer last year, Menezes was president and chief executive of Diageo North America for eight years.

Walsh was appointed chief executive in 2000 and during his tenure, the company has focused on its core premium drinks brands, including Guinness, Johnnie Walker whisky and Smirnoff vodka.