Gilbert Ghostine, President of Diageo Asia Pacific, at IE Business School

Lebanon born Ghostine, who headed Diageo's acquisition of China's  leading beverage firm, came to IE as a guest of the IE Lebanon Club. Diageo is the world's leading premium spirits company with a workforce of 20,000 people and 19% growth in 2011.

Ghostine´s joined Diageo in 1993. He talked to members of IE's Lebanon Club about how his early days in the company involved promoting the company's growth in the Middle East, where market presence and share was still limited. "What others saw as problem, I saw as an opportunity, and I took up the challenge." After this initial phase in the Middle East, Ghostine held different management positions in the US and Europe. Three years ago he was appointed President of Diageo Asia Pacific at a key moment for growth in the region, where the company now has 45 offices and 9 production plants.

During his address Ghostine examined the key factors for leadership, which he defined as "creating a legacy, making the impossible possible, and inspiring others". He went on to explain the lessons he had learnt during the  process of taking control of one of the leading premium beverage alcohol companies in China. This deal, which took place after 18 months of negotiations, is  a landmark transaction by a western firm in China.

Ghostine talked about "perseverance and resilience", and reminded his audience that in spite of cultural differences, his company worked hard to convince all the stakeholders to reach the best deal with the Chinese authorities. "It was a long and arduous process, and our objective was for  us to explain that the agreement was a win-win situation for everyone: for Diageo, for  Shui Jing Fang, for the province of Sichuan, for the 'bai jiu' industry and for China."

Ghostine underscored the importance of team work and a respect for local culture. "We decided to focus on an acquisition that took into account the structure, procedures and deadlines stipulated by the Chinese authorities, so that they would be comfortable with it. We wanted them to understand that this would be a long-term commitment and that we respect the way they work. That was crucial."

Ghostine also gave his audience some words of encouragement, saying that "the future is in your hands, the opportunities that are waiting for you out there will be as big as you want them to be." With regard to the crisis, Ghostine noted that it is a mistake to see all European countries as the same, because there are growth opportunities that should not be underestimated in countries like Germany, France, Russia, Turkey and Scandinavia. Speaking about the labor market, he explained that it is important to foster an entrepreneurial mindset and the kind of passion that entrepreneurs feel. "European managers have to understand that they have to stretch themselves and get out of their comfort zone, because there are a lot of professional opportunities out there in regions like the Middle East, US, Latin America or Africa."