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Diageo Appoints Ex-Tesco Chief to Boost GrowthDave Lewis will become CEO in January 2026 to address tariffs, $21.9B debt, and declining alcohol demand among youth.
Key FactsNov 10, 2025 · Reading time: ~45 sec.
Summary created with AI assistance · Source: reuters.com
Summary created with AI assistance · Source: reuters.com
- Dave Lewis is set to become Diageo's CEO in January 2026 to revive the world’s largest spirits maker.
- The company faces tariff hikes in the U.S., high net debt of $21.9 billion, and shifting preferences away from alcohol among younger consumers.
- Lewis gained renown for cost-cutting and marketing strategies during his turnaround of Tesco from 2014 to 2020.
- Diageo’s shares jumped nearly 8% following the announcement of Lewis's appointment amid a challenging market environment.
The market faces some headwinds but there are also significant opportunities. I look forward to working with the team to face these challenges and realise some of the opportunities in a way which creates shareholder value.— Dave Lewis, in a statement regarding his new role as CEO of Diageo.
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