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Martin Degen worked as an IT specialist for banks for 35 years and led teams in global software distribution and configuration management for more than 25 years. The business economist and IT specialist began exploring the subject of whisky around 35 years ago. His love of whisky came about by chance – a lonely bottle standing on a shelf. Today, Martin Degen owns an impressive whisky collection of more than 2,000 bottles.
However, collecting whisky alone was not enough for him. Martin Degen wanted to understand whisky at its very core. This led him on numerous journeys to Scotland, where he gained early insights into the production process and was able to deepen his knowledge of the history and origins of this ancient spirit. Along with his enthusiasm for whisky came a strong interest in Scotland and Scottish culture. Martin Degen even acquired a kilt and, together with colleagues, learned to play the bagpipes. His bagpipe teacher was Gérard Goetti, who was interviewed by Xecutives.net in 2009 and provided insights into the instrument and its technique.
For people like Martin Degen who are passionate about whisky, whisky also represents a particular attitude to life. A fascination with the history of whisky and Scottish culture is something many enthusiasts have in common. In an interview with Xecutives.net, Martin Degen offers insights into the whisky scene and explains what needs to be considered when producing whisky. He is not surprised that women are increasingly taking an interest in whisky as well.
Xecutives.net: Dear Mr Degen, was it the song “Show Me the Way to the Next Whiskey Bar” by The Doors that inspired you to try whisky?
Martin Degen: (Laughs) Almost – but not quite! I came to whisky because other drinks never really appealed to me when going out. My colleagues drank the usual things like whisky cola, Bacardi cola and similar drinks. I never warmed to those, and eventually I stuck with a single malt – simply because the bottle was standing there, all alone on the shelf.
Xecutives.net: You are well known in whisky circles as a whisky enthusiast and collector. You regularly attend tastings and organise whisky events among friends and colleagues. How has your enjoyment of and interest in whisky developed over the years?
Martin Degen: The subject fascinated me from the very beginning. In 2006, four good friends and I spent a week working at Bruichladdich Distillery on the island of Islay in Scotland and completed the Whisky Academy there – yes, since then we have been academics and single malt ambassadors (laughs). We were able to go through the entire process, which was an incredible experience.
Whisky is a very honest drink. Scotch malt whisky consists of just three ingredients: water, malted barley and yeast. The only additive permitted is colouring (E150a – caramel colouring). Whether colouring should be added at all is a matter of debate. The Scotch Malt Whisky Association stipulates that a spirit may only be called whisky after it has matured for at least three years in an oak cask in Scotland. Around 80% of a whisky’s flavour comes from maturation in the cask. That is what makes it so fascinating, because it cannot be fully explained what exactly happens during this process. I see it as something magical.
Xecutives.net: From history we know that whisky already existed in the Middle Ages, probably distilled and produced by inventive monks, as was the case with many other spirits. The spelling can be confusing for outsiders: sometimes it is written “whisky”, sometimes “whiskey”, and Americans also refer to it as “bourbon”. Could you tell us a bit about the history of whisky? And where does the name whisky actually come from?
Martin Degen: The question of whether whisky originated in Ireland or Scotland remains unresolved to this day. The first documented reference dates back to 1494 in Scotland, when a Benedictine monk purchased malt for the production of aquavit. “Whisky” is the Scottish/Irish spelling and derives from the Gaelic term “Uisge beatha”, which literally means “water of life”, comparable to the French “eau de vie”. “Whiskey”, on the other hand, is the American spelling.
When it comes to Scotch whisky, we distinguish between two main types: malt whisky and grain whisky. Malt whisky is made exclusively from malted barley, whereas grain whisky is produced using a mixture of different grains such as maize, wheat, rye or unmalted barley. Malt whisky is distilled in so-called pot stills, while grain whisky is produced in column stills (also known as Coffey stills).
In American whiskey, we differentiate between bourbon – originally distilled only in Kentucky – which consists of at least 51% corn and usually additional rye or barley, and rye whiskey, which must contain at least 51% rye. American whiskey must be matured for a minimum of two years in new oak casks.
Unlike the Scots, Americans are not allowed to reuse casks, whereas the Scots almost exclusively use casks that have already been used before. These are mostly former American whiskey casks (usually bourbon), but also sherry, port, rum or wine casks. These casks have a significant influence on the flavour of the whisky. So-called wood management is a science in itself and plays a major role in shaping the character of the final product.
Xecutives.net: Over recent decades, whisky has become one of the most popular spirits – in Switzerland and many other countries. This reminds me of cigar culture, which in my view is also closely connected to whisky. Many whisky lounges offer fumoirs where you can enjoy a whisky alongside a fine cigar – and vice versa. Are whisky lovers often cigar smokers as well?
Martin Degen: Not necessarily, but enjoying whisky, like enjoying cigars, is a form of savoir vivre. Whisky and cigar lovers are people who appreciate pleasure. For both, you should take your time in order to truly enjoy the product.
Xecutives.net: I have noticed that many women also drink whisky and even host whisky tastings. Has the proportion of women increased in recent years?
Martin Degen: Oh yes, absolutely! When I started with whisky, women would often wrinkle their noses and give this wonderful drink a wide berth – too strong, too smoky, too masculine. That has changed in the meantime. I believe there is a whisky to suit every taste, provided you are open to the subject. Whisky is the spirit with the widest range of flavours.
Xecutives.net: Whisky has become a major international business. Estimates suggest that whisky worth CHF 90 billion is consumed each year – almost 3 billion litres. These are astonishing figures for a spirit that, 50 years ago, hardly anyone in our part of the world found appealing, apart from a handful of enthusiasts.
Martin Degen: The rise of whisky is largely due to the consumption of mixed drinks. Who doesn’t remember whisky cola from their youth? The whisky used for such mixed drinks is usually a blended whisky, consisting of whiskies from different distilleries and a large proportion of grain whisky. Around 90% of total whisky production is blended whisky.
For whisky lovers, however, the remaining 10% – single malts – are particularly interesting, as they come from a single distillery. Even more interesting are so-called single cask whiskies, where the contents of a single cask are bottled. Such a single cask whisky is unique, as only a very limited number of bottles exist, depending on the yield of the cask.
Please don’t misunderstand me – this is by no means intended as a devaluation of blended whiskies. You can compare a blend to an orchestra, whereas a single malt is like an individual musician. Together they create a wonderful concert, but a violin solo is still something unique. Imagine a master blender having to create a whisky from dozens of different components that constantly change, yet always achieving the same result. That requires extraordinary sensory skills, which only very few people possess.
Xecutives.net: How did the whisky boom, which continues to this day, come about?
Martin Degen: In addition to the strong consumption of blended whisky, new markets such as Asia – and above all India – have emerged. India is by far the largest whisky market in the world, both as a consumer and as a producer.
In recent years, consumption of single malt whisky has also increased, as more and more people develop a taste for it and discover the individuality of single malts. Nevertheless, with around 10% of total whisky volume, single malt remains a niche product. Globally, trends and prices are currently slightly declining, partly due to the enormous number of new distilleries built in recent years and the overall increase in production.
Xecutives.net: A bartender in Dublin once said to me, when I ordered a whisky: “Only mad men drink whisky!” He then placed a Guinness in front of me. A seasoned old Irishman told me that only people suffering from the flu drink whisky at home – and that it should be drunk warm.
Martin Degen: (Laughs) Well, not everyone can appreciate whisky. That applies not only to Switzerland, but also to Ireland. Often it is also a question of price. Although whisky is an important export product in Ireland, it is often simply too expensive for the local population to spend an entire evening drinking it in a pub. Beer makes that easier – with whisky, the evening can end rather quickly.
Xecutives.net: Some time ago, you showed me bottles that sell for more than CHF 10,000, putting even the finest Bordeaux wines in the shade. What makes whisky so expensive in some cases?
Martin Degen: Prices for certain whiskies have risen to almost unimaginable levels in recent years, depending on the distillery and rarity. Recently, a bottle of 60-year-old Macallan from 1926 was auctioned for around 1.5 million British pounds. Unfortunately, there are now many people who are only interested in the price, not in the product itself.
Xecutives.net: For many people, whisky is not just a spirit, but also an investment. With the right instinct, one can make money with whisky, similar to wine. What should one look out for when considering whisky as an investment?
Martin Degen: Personally, I would not invest in whisky. That might have been an option 30 years ago. Of course, prices for whiskies from long-closed distilleries have risen sharply, and those who acquired such bottles years ago have seen their value increase. But for me, it is primarily about enjoyment.
If someone does consider whisky as an investment, it is crucial to ensure that it comes from a reliable source, as there are unfortunately many counterfeits on the market. Among active distilleries, bottles from Macallan, Highland Park and Springbank are highly sought after, but usually overpriced. Among closed distilleries, Port Ellen, Brora and Rosebank are considered rare treasures, often commanding four-figure sums.
Xecutives.net: You yourself own an impressive collection of more than 2,000 bottles of whisky. How does one accumulate such a number, and which whiskies are your favourites?
Martin Degen: Well, over the years, one bottle or another has found its way to me. There is really no bad whisky on the market today. Ultimately, as with everything, it comes down to personal taste. I have noticed that my preferences have changed over the years. Twenty years ago, I leaned more towards smoky whiskies; today I prefer sherry-driven ones. When asked which is the best whisky, I like to quote a good friend: “The next one.” (Laughs)
Xecutives.net: As you say, the variety of whisky is enormous – smoky, malty, fruity, with new styles constantly emerging. Whisky often tastes woody or even salty. Yet the raw materials are always more or less the same: barley, corn, rye or wheat. How does whisky ultimately acquire its distinctive flavour?
Martin Degen: Malt whisky is made from malted barley. In the pure distillate, we distinguish between peated and unpeated spirit. In peated spirit, the barley is dried over peat fires, which gives the distillate its smoky character. The phenol content is measured in PPM (parts per million of phenols). As peat was more readily available than wood in many parts of Scotland, barley was often dried over peat fires. Over time, other fuel sources such as gas or oil were introduced. In recent years, however, there has been a real hype around heavily peated whiskies, leading to something of a race among distilleries to produce the smokiest whisky possible.
Xecutives.net: Unlike wine, which can change its flavour significantly over the years in the bottle, whisky hardly changes once bottled. Why is that?
Martin Degen: Whisky matures only in the cask through interaction with the wood. Once it is bottled, this maturation process stops, and ideally the whisky no longer changes. However, whisky can also suffer from cork taint. Thankfully this happens less frequently than with wine, but it can occur – and when it does, it is extremely frustrating, as the whisky becomes completely undrinkable. Particularly painful when it happens to an old bottle that cannot be replaced.
Xecutives.net: You know many whisky producers and whisky lovers – and you are one yourself. Apart from their shared enjoyment of the spirit, do these people have common character traits? Could they be compared to jazz lovers, for example, or cigar smokers who value comfort and deceleration?
Martin Degen: I would describe us as whisky aficionados. A shared appreciation of fine things is something we all have in common. Whisky should be enjoyed with pleasure, understanding and respect for the product.
Xecutives.net: Has whisky also influenced your work as an IT specialist? Has it shaped your approach to work in any way?
Martin Degen: Perhaps it has taught me that you should not rush things and that problems should be approached calmly, once you have gained an overview of the situation.
Xecutives.net: You have travelled to Scotland many times and visited the small islands along the coast where whisky is distilled. Are there differences in whisky consumption between Scots and the rest of the world, for example Switzerland? And how have the Scots managed to spread the fascination for whisky worldwide? Is there a major joint marketing strategy behind it?
Martin Degen: Per capita whisky consumption in Scotland is around 2–3 litres per year (depending on the source), whereas in Switzerland it is well below 1 litre per year. Here, wine and beer still dominate the alcohol market.
The success of whisky can certainly be attributed to a combination of tradition, quality, craftsmanship and, above all, clever marketing. In the 19th century, Scottish distilleries began exporting whisky worldwide. Of course, the fact that the British Empire represented a very large market also helped.
Xecutives.net: You are open to new whisky ideas, as your collection demonstrates. You have also participated in casks that were bottled at a certain point in time. Where do you draw the line when it comes to whisky and new flavour concepts? When do you, as a whisky lover, turn up your nose at new ideas?
Martin Degen: I am a friend of traditional production – call me a nostalgic romantic. If someone were to attempt to artificially recreate whisky, that would be a taboo for me personally. Otherwise, the motto applies: “Anything goes, as long as you like it.”
Xecutives.net: How do you see the whisky market developing in the future? What trends are you observing?
Martin Degen: Recently, we have seen a slight decline, mainly due to US tariffs and slower economic growth in China. At the same time, demand in the premium whisky segment is increasing. Emerging markets such as India, Brazil and the Asian region are gaining importance. So things remain exciting.
Xecutives.net: Dear Mr Degen, thank you very much for taking the time for this interview – and for the excellent whisky I was able to enjoy with you. I wish you continued pleasure in all things whisky.
© 2025 by Christian Dueblin. All rights reserved. Any further publication requires the express permission of the author.
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