Global drinks giant Diageo has named retail veteran Sir Dave Lewis as its next chief executive, set to take charge as the company confronts slowing sales and evolving consumer preferences across key markets. Lewis brings extensive leadership experience from his tenure transforming Tesco and nearly three decades at Unilever, along with his current role chairing consumer health company Haleon. The appointment follows an extensive worldwide search by the board, which expressed unanimous confidence in his ability to build brands and navigate market headwinds.
Lewis led a successful turnaround at Tesco between 2014 and 2020, restoring profitability after an accounting scandal through cost reductions and operational improvements. His challenge at Diageo involves revitalizing growth for premium spirits including Johnnie Walker and Guinness, amid pressures from inflation and shifting drinking habits, particularly in the United States and Latin America.
Investors responded positively to the appointment, with shares rising over 5 percent and adding roughly 3 billion pounds to the company's valuation. Lewis will assume the position after stepping down from Haleon, where he currently serves as chairman of the consumer healthcare business.
Lewis led a successful turnaround at Tesco between 2014 and 2020, restoring profitability after an accounting scandal through cost reductions and operational improvements. His challenge at Diageo involves revitalizing growth for premium spirits including Johnnie Walker and Guinness, amid pressures from inflation and shifting drinking habits, particularly in the United States and Latin America.
Investors responded positively to the appointment, with shares rising over 5 percent and adding roughly 3 billion pounds to the company's valuation. Lewis will assume the position after stepping down from Haleon, where he currently serves as chairman of the consumer healthcare business.
