Diageo Appoints Former Tesco CEO Dave Lewis as New Chief Executive

New Leadership at Diageo

• 🎯 Diageo, the world's largest spirits maker, has appointed Dave Lewis as its new CEO, concluding a month-long search.
• 🗓️ Lewis, 60, will officially join Diageo at the start of next year, taking the helm in January 2026.

Challenges and Expectations

• 📉 The company is facing a challenging period, having recently downgraded its sales and profit outlook for fiscal 2026.
• 📈 Diageo's shares, which were near a decade low, jumped 7% following the news of Lewis's appointment.
• 🥃 Lewis is tasked with turning around the maker of Johnnie Walker whiskey and Guinness beer, particularly addressing issues like tariff hikes in the US.

Dave Lewis's Background

• 🛒 Lewis previously served as CEO of UK supermarket group Tesco for six years, leaving in 2020.
• 💡 He earned the nickname "Drastic Dave" for his success in fixing businesses through cost-cutting and innovative marketing during his three decades at consumer giant Unilever.
• ✅ At Tesco, he was credited with transforming the company and reinforcing its position as the clear market leader.