Menezes was due to retire at the end of this month: Sources

Ivan Manuel Menezes, the Indian-origin Chief Executive Officer (CEO) of 'Diageo', the world's largest liquor company, passed away on Wednesday. The company has shared this information. 

Sources familiar with the matter said that the 63-year-old Menezes was due to retire at the end of this month. He was admitted to the hospital for treatment of stomach ulcer and other complications. The cause of his death in London was not immediately known.

It is worth noting that Diageo announced on Monday that CEO Menezes is undergoing treatment. Appointee Debra Crews will assume her position immediately. Diageo said in a statement: "At the end of the week, we learned that Ivan's condition had deteriorated following ulcer surgery and other complications."

Notably, Menezes studied at Delhi's prestigious St. Stephen's College and the Indian Institute of Management-Ahmedabad. Menezes joined Diageo in 1997 following the merger of Guinness and Grand Metropolitan. He became the executive director of the company in July 2012 and the chief executive officer in July 2013.

His brother Victor Menezes is the former chairman and CEO of Citibank. Diageo's flagship brands include Johnnie Walker Whisky, Tanqueray Gin and Don Julio Tequila. The company announced the appointment of Debra Crew to replace Menezes on March 28.