Diageo chairman to step down

Drinks giant Diageo has confirmed its chairman is stepping down, sparking speculation of an imminent shake-up of the company’s board. The £48 billion company confirmed over the weekend that it is seeking a successor to Dr Franz Humer, the Swiss-Austrian businessman who moved into the chairman’s suite in 2010. “As a matter of good governance process, the board has clearly started to think about succession and a process is under way.”