UK – Drinks company Diageo has named Michael Glasgow to replace Steve Mingle as director of pensions.

“Michael Glasgow joined Guinness in 1996 as UK pensions manager and has been a member of the pensions management team at Diageo since its incorporation,” the firm said in a statement. He was most recently international pensions director and performance and reward director at Diageo Global Supply.

Mingle announced his departure from Diageo at the end of 2002. He was undecided at the time about his next move, saying: “Ideally, I won’t start working again until late spring, and I’m being absolutely open-minded about what to do next.”

"I'm delighted to have been confirmed in the role of Diageo's director of pensions. I have the support of a very strong team, with whom I have worked over a number of years,” Glasgow said in a statement. “This has enabled a smooth transition of responsibilities and means that we can continue well thought out strategies with minimal disruption."

Diageo’s 4.9 billion euro pension fund won the award for Fund Structure and Administration in the UK for the second time at the IPE-Awards ceremony for pension fund excellence held in Amsterdam in November 2002.

Glasgow said the challenges ahead include taking into account recent government proposals and ensuring that its commitments are “appropriately funded”.

“In addition, we intend to make our UK plan's award winning service even better in 2003 by introducing an impressive range of dynamic online facilities designed to enhance the exchange of tailored, meaningful and timely information."