Diageo Taps Tesco Veteran Dave Lewis as New CEO

Diageo's board felt that Sir Dave had extensive chief executive experience, having led Tesco for six years until 2020 and spending nearly 30 years at consumer goods giant Unilever. He will leave his current role as chairman of health firm Haleon. The company's shares have recently fallen to a 10-year low, and Diageo has been battling weaker sales in key markets, particularly in the US and China. Diageo owns a portfolio of well-known brands, including Johnnie Walker whisky, Smirnoff vodka, and Captain Morgan rum. The company's struggles have been attributed to a decline in sales across its range, despite a growth in Guinness sales. Diageo's former chief executive, Debra Crew, quit in the summer after two years in charge. Sir Dave was credited with success at Tesco during his tenure as chief executive, and his appointment has been met with optimism by industry analysts. "Drastic Dave" was known for his turnaround efforts at Tesco, and his experience in the consumer goods industry is expected to serve him well in his new role at Diageo. The appointment of Sir Dave Lewis marks a significant shift in Diageo's leadership, and the company's future prospects will be closely watched by investors and industry observers. As the world's largest drinks company, Diageo's performance has a significant impact on the global beverage industry. With Sir Dave at the helm, the company is expected to focus on driving growth and improving sales across its range of brands.