India: Diageo issues summary of board appointments at United Spirits

Diageo plc issued a summary of the board appointments announced by United Spirits Limited after its annual general meeting held on 30 September 2014. Diageo is the majority shareholder in USL with a 54.78% interest and continues to be entitled to appoint its nominees to the roles of CEO and CFO, as well as to nominate and recommend directors.

The appointed/re-appointed board members at the United Spirits General meeting are: Anand Kripalu (CEO and Diageo-nominated director); Vijay Mallya (non-executive director nominated by United Breweries (Holdings) Limited; and Sudhakar Rao, Sivanandhan and Indu Shahani (all as independent non-executive directors).

Following a reduction in its shareholding in United Spirits, United Breweries (Holdings) Limited is no longer entitled to recommend an independent director to the board under the shareholders agreement between the Diageo group and the UBHL group. Diageo voted in favour of the resolution at the AGM to re-appoint Mallya as a director of United Spirits Limited.

01 October, 2014