IN BRIEF: Distil brings in former Diageo exec as splits chair and CEO

Distil PLC - London-based owner of drinks brands RedLeg Spiced Rum, Blackwoods Gin and Vodka, and Blavod Black Vodka - Splits leadership responsibilities, as Executive Chair Don Goulding plans to leave the board on August 14 after serving 16 years. Goulding joined Distil as a non-executive director in 2010, moving to non-executive chair and then executive chair. Distil says Goulding is retiring to focus on family projects. Philip Naughton, who joined the board in February, will step up to non-executive chair. Distil also hires David Smith to be chief executive officer. Distil notes Naughton has 25 years experience in the drinks industry, including with Diageo PLC, where he helped launch ready-to-drink and zero-alcohol products.

"I am delighted that we are strengthening the leadership team by separating the executive chairman role and CEO roles," Goulding says. "David brings industry experience and a strong track record of building premium drinks brands, while Philip has already made an excellent contribution since joining the board earlier this year."

Current stock price: 0.068 pence

12-month change: down 64%

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