Diageo, the maker of Guinness, Johnnie Walker, and Baileys, has appointed Sir Dave Lewis as its next chief executive officer as the company seeks to reinvigorate growth and navigate changing consumer tastes.
Lewis, a veteran of the consumer goods industry, will assume the role on January 1, 2026, succeeding interim CEO Nik Jhangiani, who will return to his position as chief financial officer. The appointment follows months of global search after former CEO Debra Crew stepped down in July.
A seasoned executive known for turning around struggling companies, Lewis led Tesco plc from 2014 to 2020, where he is credited with restoring the retailer’s fortunes after a financial crisis.
Before Tesco, he spent nearly three decades at Unilever, where he held senior global roles, including President for the Americas and Global President for Personal Care. He currently chairs Haleon, the consumer health company spun off from GSK, and sits on the board of PepsiCo.
“We are delighted to welcome Dave as Diageo’s new CEO,” said Sir John Manzoni, Diageo’s chair. “Having conducted an extensive and thorough global search, the board unanimously felt that Dave has both the CEO experience and leadership skills in building and marketing world-leading brands that Diageo needs at this time.”
Lewis’s appointment comes as Diageo faces softer alcohol sales and weighs possible brand divestments amid shifting drinking trends and a sluggish U.S. market. In its most recent quarterly update, the company reported $4.9 billion in net sales, down 2% year-over-year, and warned of a weaker consumer environment.
Lewis said he saw both challenges and opportunity ahead.
“Diageo is a world-leading business with a portfolio of very strong brands,” he said. “The market faces some headwinds, but there are also significant opportunities. I look forward to working with the team to face these challenges and realize them in a way that creates shareholder value.”
The board said the appointment followed a rigorous selection process that considered both internal and external candidates.
Last year, Diageo Plc, the world’s largest spirits producer, sold its majority stake in Guinness Nigeria Plc..
The UK-based company sold its 58% stake in Guinness Nigeria to Singapore’s Tolaram Group, a consumer goods conglomerate with investments in Nigeria’s Lekki Deep Sea Port, for ₦81.60 per share, about N103 billion.
The move came as Nigeria grappled with its worst cost-of-living crisis in decades, which significantly reduces consumer spending.
Despite the sale, Diageo retained ownership of the Guinness brand, licensing it to Guinness Nigeria for continued production. The company also maintains a presence in the country through their international premium spirits business.
Lewis, 60, was knighted in 2021 for his contribution to business and the food industry. He also serves as Chair of the World Wildlife Fund UK and Trustee of the Royal Foundation of the Prince and Princess of Wales.
Diageo, listed in London and New York, sells its brands in nearly 180 countries.
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