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Diageo Shake-Up: New Boss Plots Sweeping Changes
21 Feb
Summary
- New CEO Sir Dave Lewis plans major overhaul at Diageo.
- The company has seen a significant share price decline over five years.
- Lewis aims to streamline decision-making and management layers.
Diageo's new chief executive, Sir Dave Lewis, is orchestrating a substantial reorganization of the drinks giant's senior leadership. The move is part of a broader strategy to counter recent declines experienced by the FTSE 100 company. Lewis, who assumed leadership in January 2026, has been given the challenging mandate of turning the business around.
The company has been described as having become complacent with complex decision-making processes. Sir Dave Lewis intends to implement 'wholesale change,' which includes removing entire management tiers and replacing some members of the 14-strong executive committee.
This strategic shift is occurring as Diageo navigates changing consumer preferences and a challenging market. Investors will receive their first update on Lewis's plans during the company's half-year results presentation on Wednesday. While Diageo shares have seen a recent uptick, they remain significantly down over the last five years.
