Mr Arnault, who has opposed the planned merger of Guinness and GrandMet, is Guinness's biggest shareholder.

ECONOMIST: Merger dirge

Joint chairmen of Diageo are George Bull, from GrandMet, and Tony Greener, from Guinness, while chief executive is John McGrath.

BBC: Diageo debuts as Guinness, GrandMet disappear

And the deal was reached after Guinness and GrandMet reached a settlement with their largest shareholder, French drinks company LVMH.

BBC: Diageo debuts as Guinness, GrandMet disappear