Larry Schwartz, President Diageo North America, has announced his intention to retire at the end of the calendar year, after 40 years in the drinks industry.

“I am proud to be a bartender’s son and grandson, and am so privileged to have enjoyed 40 years in an industry I love,” Schwartz said in a press release. “Working with Diageo’s brands and people has been the highlight of a career that has brought me much joy. It has been an honour to work alongside Ivan and all my colleagues in Diageo over these past 15 years.”

Larry’s successor will be the subject of a further announcement in due course, according to a press release.

“Today is an opportunity to recognise Larry’s achievements and thank him for his commitment and dedication to Diageo,” said Ivan Menezes, Chief Executive. “Through his strong relationships across the industry and within Diageo and his passion for our business and our brands, he has helped build Diageo’s leadership position in our largest market.”

“This is a strong business, and until he retires Larry will support the new leader of our North American business as they implement the changes needed to deliver improving performance,” Menezes added.