Incoming Diageo CEO Ivan Menezes, the latest Indian-born businessman to head a global multinational, is likely to continue the strategy of his predecessor by focusing on growth in emerging markets, writes John Daly

Guinness owner Diageo reshuffled its management yesterday, with a company insider becoming the boss of the world’s biggest spirits firm, suggesting there will be no major change in strategy.

Diageo announced today that it has entered into an agreement to acquire Rosenblum Cellars.

Drinks group Diageo today said it was buying US wine group Chalone for about $260m (€194.4m).