Diageo, one of the leading alcohol beverage companies known for brands like Guinness and Johnnie Walker, has appointed Dave Lewis as its new CEO. This decision comes at a time when the company is navigating changing consumer preferences in the alcohol industry and considering strategic moves like selling off some of its brands.
Dave Lewis, a seasoned consumer products executive, is set to take on the role of CEO and executive director at Diageo starting January 1, 2026. Lewis brings with him a wealth of experience, having previously served as the Group CEO of Tesco, a major British supermarket chain, and in various leadership roles at Unilever. He is also currently a non-executive board director at PepsiCo.
The appointment of Lewis follows the departure of former CEO Debra Crew in July, amid a slowdown in alcohol sales. CFO Nik Jhangiani, who temporarily held the CEO position, will resume his role as chief financial officer once Lewis assumes his new position.
Diageo, which also owns brands like Captain Morgan, Baileys, and Tequila Don Julio, reported a 2% year-over-year decrease in net sales during its first quarter. The company is now expecting a weaker U.S. consumer environment for the full fiscal year than previously anticipated.
In light of challenges such as tariffs and market headwinds, Diageo had announced earlier in the year that it was considering significant changes to its brand portfolio. However, the latest earnings call did not provide an update on whether the company is still exploring sell-offs.
Lewis remains optimistic about the future of the alcohol market, despite the challenges it faces. He believes there are significant opportunities ahead and is eager to work with the team at Diageo to create value for shareholders.
With Lewis at the helm, Diageo looks to navigate the evolving landscape of the alcohol industry, capitalize on growth opportunities, and drive the company towards continued success in the global market.
