By Yadarisa Shabong
(Reuters) -Diageo appointed former Tesco boss Dave Lewis as its CEO on Monday, ending a months-long search and turning to an outsider to steer the world’s largest spirits maker through a challenging period for the drinks industry.
Lewis, 60, will join Diageo at the start of 2026 and will be tasked with turning around the Johnnie Walker whisky and Guinness beer maker, which last week downgraded its sales and profit outlook for fiscal 2026 and whose shares are hovering near a decade low.
Lewis was CEO of UK supermarket group Tesco from 2014 to 2020 and prior to that spent three decades at Unilever, where he earned the nickname “Drastic Dave” after fixing businesses through cost-cutting and innovative marketing.
ESTABLISHED TESCO AS CLEAR MARKET LEADER
He left Tesco after transforming the UK’s largest supermarket group and reinforcing its position as the clear market leader. He also served a brief stint as the UK government’s supply chain adviser during the pandemic.
“The Board unanimously felt that Dave has both the extensive CEO experience, and the proven leadership skills in building and marketing world-leading brands, that is right for Diageo at this time,” Diageo Chair John Manzoni said in a statement.
Lewis, who was knighted in 2021, is currently chair of consumer healthcare group Haleon.
Nik Jhangiani, who has served as interim CEO since July following Debra Crew’s abrupt departure, will continue in the role until the end of December and then resume as finance chief.
Jhangiani, 60, was among the most highly respected finance chiefs in the sector, who has been regarded as potential CEO material for a while, analysts had said when he was appointed interim boss.
Deirdre Mahlan, who was appointed interim finance chief in August, will continue to support the company through the transition, Diageo said.
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Subhranshu Sahu and Conor Humphries)
