Diageo announced that former Tesco chief executive Dave Lewis will become its chief executive officer, with the transition taking effect on January 1 2026. Lewis brings three decades of experience from Unilever, has served as chair of Haleon, and was knighted in 2021 for his contributions to business and the food industry.
The appointment follows the July resignation of Debra Crew, whose tenure was marked by a sharp decline in share price and sales, prompting investor dissatisfaction. The board’s unanimous decision to bring in Lewis was widely interpreted as a move to restore confidence and end the leadership vacuum that had persisted for several months. Market participants reacted positively, with analysts noting the appointment as a key step toward stabilizing the company’s outlook.
Lewis’s track record at Tesco—where he led a turnaround that restored profitability and brand relevance—positions him to strengthen Diageo’s global brand portfolio and operational efficiency. His experience in consumer‑goods strategy and cost discipline is expected to help the company navigate softening demand in the United States and China, where competition and tariff pressures have weighed on margins.
Diageo has faced headwinds from weaker consumer demand in key markets, increased competition, and the impact of trade tariffs. The company has cut its full‑year guidance and is focusing on cost‑control initiatives while pursuing growth in high‑margin segments. Lewis’s appointment signals a renewed emphasis on brand revitalization and strategic investments to counter these challenges.
Sir John Manzoni, Diageo’s chair, said the board was “delighted to welcome Dave as the new CEO” and that Lewis’s experience in building and marketing world‑leading brands would be “right for Diageo at this time.” Lewis echoed this sentiment, stating that “the market faces headwinds but there are also significant opportunities” and that he looks forward to working with the team to create shareholder value.
The appointment of a seasoned turnaround specialist is expected to reinforce Diageo’s strategic focus on brand building, operational excellence, and market‑responsive growth, positioning the company to address current headwinds and pursue new opportunities in a competitive landscape.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.