Guinness-owner Diageo taps former Tesco chief Dave Lewis for CEO role

[BENGALURU] Diageo appointed former Tesco boss Dave Lewis as its CEO on Monday (Nov 10), ending a months-long search.

The company is turning to an outsider to steer the world’s largest spirits maker through a challenging period for the drinks industry.

Lewis will join Diageo at the start of 2026 and will be tasked with turning around the Johnnie Walker whisky and Guinness beer maker.

Last week, the company downgraded its sales and profit outlook for the fiscal year 2026, and its shares are hovering near a decade low.

Lewis was the chief executive officer of the UK supermarket group Tesco from 2014 to 2020. Prior to that, he spent three decades at Unilever.

There, he earned the nickname “Drastic Dave” after fixing businesses through cost-cutting and innovative marketing.

Established Tesco as a 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.

Lewis, who was knighted in 2021, is currently the chair of consumer healthcare group Haleon.

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Nik Jhangiani, who has served as interim CEO of Diageo since July following Debra Crew’s abrupt departure, will continue in the role until the end of December, and then resume as the finance chief.

When Jhangiani was appointed interim boss, he was among the most highly respected finance chiefs in the sector, and has been regarded as potential CEO material for a while, analysts said.

Deirdre Mahlan, who was appointed interim finance chief in August, will continue to support the company through the transition, said Diageo. REUTERS