Diageo names new Asia Pacific chief as it looks to steady the region
The Johnnie Walker owner has hired Sujay Wasan to lead a business that has been a persistent source of concern for the drinks giant.
Diageo has confirmed the hire of Sujay Wasan to lead its Asia Pacific business, a significant executive appointment for the world's largest spirits company by revenue. Asia Pacific, and China in particular, has been a persistent drag on Diageo's results in recent years, with weak consumer sentiment and destocking in the region denting sales of premium spirits including Johnnie Walker.
The appointment comes as Diageo continues to work through a period of leadership change and strategic reassessment more broadly, following pressure from investors over its performance and cost base. Asia Pacific carries particular importance for the group's premiumisation strategy, given the size of its middle class and its historic appetite for Scotch whisky and other premium spirits categories. A new regional chief gives Diageo an opportunity to reset its approach in a market where recovery has proved slower than hoped.
For the wider spirits industry, Diageo's China and Asia performance is often read as a bellwether. What to watch is whether Wasan's arrival brings a change in strategy, whether through pricing, distribution or brand focus, and whether Diageo's Asia Pacific business can show signs of stabilisation in its next set of results.
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