Paul Walsh (businessman)
Encyclopedia
Paul S. Walsh
Paul S. Walsh (born 15 May 1955, Chadderton
, Lancashire
is the current Chief Executive Officer
of Diageo
, and one of the FTSE 100's longest serving chief executives.
. He initially wanted to become an RAF
pilot but failed the medical due to colour blindness
. He studied Accounting at Manchester Polytechnic
. His father was an engineer. Walsh claims to have inherited his work ethic
from his father, his organisational skills from his mother, and his confidence from both parents.
as an accountant. In 1982, he joined the brewers Watney, Mann and Truman
as a Financial Planning and Accounts Manager. This company was owned by Grand Metropolitan
. In 1986 he became Finance Director of the Brewing Division. In 1987 he moved to America when he became CEO of Pillsbury, and joined the GrandMet board of directors
in 1995, which became Diageo in December 1997. He became Chief Operating Officer
of Diageo on January 1 2000, and CEO on September 1 2000. As head of Diageo he was responsible for streamlining the business, selling off non core assets such as Burger King
and Pilsbury
and focussing on premium drinks brands, bolstered by memorable advertising campaigns for brands such as Guinness
and Smirnoff
. He notably spearheaded the acquisition of Seagram
. In addition to his responsibilities at Diageo, Walsh is Chairman of the Scotch Whisky Association, a Non-executive director at FedEx Corporation, a Non-executive director at Unilever plc and Unilever NV and a member of the Business Advisory Group.
air hostess
. In America, they lived in Orono
. They divorced in 2006 and she received a divorce settlement of around £15m. He has a £4m house on a 35 acres (141,640.1 m²) country estate at Petworth
, West Sussex
, where he relaxes at weekends by fly fishing
and horse riding. He earns around £4m a year. He also has a 2400 acres (9.7 km²) estate in South Africa
, and a penthouse in Chelsea
that he lives in during weekdays when he is in London. About half of his time is spent working abroad in foreign markets where Diageo is present. Walsh cites his favourite drinks as Johnnie Walker Black Label and Guinness. He was described by The Times
as "Tall, paunchy, balding and thickset...[with] a burly confidence that exudes from every pore...a bluff Mancunian whose blokeish humour masks a fiercely competitive nature".
Paul S. Walsh (born 15 May 1955, Chadderton
Chadderton
Chadderton is a town within the Metropolitan Borough of Oldham, in Greater Manchester, England, historically a part of Lancashire...
, Lancashire
Lancashire
Lancashire is a non-metropolitan county of historic origin in the North West of England. It takes its name from the city of Lancaster, and is sometimes known as the County of Lancaster. Although Lancaster is still considered to be the county town, Lancashire County Council is based in Preston...
is the current Chief Executive Officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of Diageo
Diageo
Diageo plc is a global alcoholic beverages company headquartered in London, United Kingdom. It is the world's largest producer of spirits and a major producer of beer and wine....
, and one of the FTSE 100's longest serving chief executives.
Early life
An only child, Walsh attended the Royton and Crompton SchoolRoyton and Crompton School
Royton and Crompton School is a coeducational, secondary comprehensive school for 11 - 16 year olds in the Metropolitan Borough of Oldham, Greater Manchester, England.-External links:* *...
. He initially wanted to become an RAF
Royal Air Force
The Royal Air Force is the aerial warfare service branch of the British Armed Forces. Formed on 1 April 1918, it is the oldest independent air force in the world...
pilot but failed the medical due to colour blindness
Color blindness
Color blindness or color vision deficiency is the inability or decreased ability to see color, or perceive color differences, under lighting conditions when color vision is not normally impaired...
. He studied Accounting at Manchester Polytechnic
Manchester Metropolitan University
Manchester Metropolitan University is a university in North West England. Its headquarters and central campus is in the city of Manchester, but there are outlying facilities in the county of Cheshire. It is the third largest university in the United Kingdom in terms of student numbers, behind the...
. His father was an engineer. Walsh claims to have inherited his work ethic
Work ethic
Work ethic is a set of values based on hard work and diligence. It is also a belief in the moral benefit of work and its ability to enhance character. An example would be the Protestant work ethic...
from his father, his organisational skills from his mother, and his confidence from both parents.
Career
After leaving university, he spent six years with the Co-opThe Co-operative Group
The Co-operative Group Ltd. is a United Kingdom consumer cooperative with a diverse range of business interests. It is co-operatively run and owned by its members. It is the largest organisation of this type in the world, with over 5.5 million members, who all have a say in how the business is...
as an accountant. In 1982, he joined the brewers Watney, Mann and Truman
Watney Combe & Reid
Watney Combe & Reid was a leading brewing business in London. At its peak in the 1930s it was a constituent of the FT30 index of leading companies on the London Stock Exchange. It produced the beer brand Watney's Red Barrel.-The Stag Brewery:...
as a Financial Planning and Accounts Manager. This company was owned by Grand Metropolitan
Grand Metropolitan
Grand Metropolitan plc is a former United Kingdom-based company operating hotels, holiday centres, entertainment centres, public houses and casinos...
. In 1986 he became Finance Director of the Brewing Division. In 1987 he moved to America when he became CEO of Pillsbury, and joined the GrandMet board of directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
in 1995, which became Diageo in December 1997. He became Chief Operating Officer
Chief operating officer
A Chief Operating Officer or Director of Operations can be one of the highest-ranking executives in an organization and comprises part of the "C-Suite"...
of Diageo on January 1 2000, and CEO on September 1 2000. As head of Diageo he was responsible for streamlining the business, selling off non core assets such as Burger King
Burger King
Burger King, often abbreviated as BK, is a global chain of hamburger fast food restaurants headquartered in unincorporated Miami-Dade County, Florida, United States. The company began in 1953 as Insta-Burger King, a Jacksonville, Florida-based restaurant chain...
and Pilsbury
Pilsbury
Pilsbury is a hamlet in the English county of Derbyshire, approximately 2 miles north of Hartington. It is on the side of the valley of the River Dove that, thereabouts, forms the border with the county of Staffordshire.-History:...
and focussing on premium drinks brands, bolstered by memorable advertising campaigns for brands such as Guinness
Guinness
Guinness is a popular Irish dry stout that originated in the brewery of Arthur Guinness at St. James's Gate, Dublin. Guinness is directly descended from the porter style that originated in London in the early 18th century and is one of the most successful beer brands worldwide, brewed in almost...
and Smirnoff
Smirnoff
Smirnoff is a brand of vodka owned and produced by the British company Diageo. The Smirnoff brand began with a vodka distillery founded in Moscow by Pyotr Arsenievich Smirnov , the son of illiterate Russian peasants. It is now distributed in 130 countries.Smirnoff products include vodka, flavored...
. He notably spearheaded the acquisition of Seagram
Seagram
The Seagram Company Ltd. was a large corporation headquartered in Montreal, Quebec, Canada that was the largest distiller of alcoholic beverages in the world. Toward the end of its independent existence it also controlled various entertainment and other business ventures...
. In addition to his responsibilities at Diageo, Walsh is Chairman of the Scotch Whisky Association, a Non-executive director at FedEx Corporation, a Non-executive director at Unilever plc and Unilever NV and a member of the Business Advisory Group.
Personal life
He married Nikki in 1980 and they have a son Dean (born April 27, 1981). He met Nikki in Chadderton in 1978 when she was a LakerLaker Airways
Laker Airways was a wholly private, British independentindependent from government-owned corporations airline founded by Sir Freddie Laker in 1966. It originally was a charter airline flying passengers and cargo worldwide...
air hostess
Flight attendant
Flight attendants or cabin crew are members of an aircrew employed by airlines primarily to ensure the safety and comfort of passengers aboard commercial flights, on select business jet aircraft, and on some military aircraft.-History:The role of a flight attendant derives from that of similar...
. In America, they lived in Orono
Orono
Orono is the name of three communities:Canada*Orono, Ontario, a town in the Municipality of ClaringtonUnited States*Orono, Maine, a town in Penobscot County, home to the University of Maine*Orono, Minnesota, a city in Hennepin County...
. They divorced in 2006 and she received a divorce settlement of around £15m. He has a £4m house on a 35 acres (141,640.1 m²) country estate at Petworth
Petworth
Petworth is a small town and civil parish in the Chichester District of West Sussex, England. It is located at the junction of the A272 east-west road from Heathfield to Winchester and the A283 Milford to Shoreham-by-Sea road. Some twelve miles to the south west of Petworth along the A285 road...
, West Sussex
West Sussex
West Sussex is a county in the south of England, bordering onto East Sussex , Hampshire and Surrey. The county of Sussex has been divided into East and West since the 12th century, and obtained separate county councils in 1888, but it remained a single ceremonial county until 1974 and the coming...
, where he relaxes at weekends by fly fishing
Fly fishing
Fly fishing is an angling method in which an artificial 'fly' is used to catch fish. The fly is cast using a fly rod, reel, and specialized weighted line. Casting a nearly weightless fly or 'lure' requires casting techniques significantly different from other forms of casting...
and horse riding. He earns around £4m a year. He also has a 2400 acres (9.7 km²) estate in South Africa
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
, and a penthouse in Chelsea
Chelsea, London
Chelsea is an area of West London, England, bounded to the south by the River Thames, where its frontage runs from Chelsea Bridge along the Chelsea Embankment, Cheyne Walk, Lots Road and Chelsea Harbour. Its eastern boundary was once defined by the River Westbourne, which is now in a pipe above...
that he lives in during weekdays when he is in London. About half of his time is spent working abroad in foreign markets where Diageo is present. Walsh cites his favourite drinks as Johnnie Walker Black Label and Guinness. He was described by The Times
The Times
The Times is a British daily national newspaper, first published in London in 1785 under the title The Daily Universal Register . The Times and its sister paper The Sunday Times are published by Times Newspapers Limited, a subsidiary since 1981 of News International...
as "Tall, paunchy, balding and thickset...[with] a burly confidence that exudes from every pore...a bluff Mancunian whose blokeish humour masks a fiercely competitive nature".
External links
- Diageo
- Portrait
- Times article August 2007
- Telegraph article February 2007
- Divorce in July 2006
- Independent article September 2005