Mon, 10 Nov 2025

Mon, 10 Nov 2025 Guinness maker appoints former Tesco boss to stem flagging sales

It is hoped the former Tesco boss can reignite sales at the biggest drinks-maker in the world, Diageo.
Diageo, the world's largest drinks company, has appointed Sir Dave Lewis as its new chief executive. He will take over from Debra Crew on January 1, replacing acting CEO Nik Jhangiani. Diageo has struggled with declining sales in recent years, despite growing demand for Guinness beer. The company owns brands such as Johnnie Walker and Smirnoff. Sir Dave was previously the chairman of health firm Haleon and spent six years as CEO of Tesco before that. He brings extensive experience to the role and a track record of turning around struggling companies. Diageo's share price rose 7% after the announcement, but analysts warn that Sir Dave faces significant challenges in reversing the company's fortunes. The group has struggled with changing consumer habits, particularly among younger people, as well as rising inflation and weaker sales in key markets such as the US and China. Sir Dave said he is looking forward to working with the team to address these challenges and create shareholder value. Analysts expect him to focus on repair work rather than long-term growth, given his reputation for making bold decisions and stabilizing struggling businesses. Diageo's operating profits declined by 28% in the year to June, with net sales down 0.1%. The company has forecast flat to slightly lower net sales growth in the coming year due to a weaker US consumer environment and lower sales across China.
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