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Diageo has appointed consumer goods veteran Dave Lewis as its next CEO, as the owner of Guinness and Johnnie Walker grapples with changing consumer alcohol preferences and considers selling some of its brands.
boy name Becomes CEO of Diageo Lewis joins after serving as chairman of Haleon, a pharmaceutical company founded in 2022. Previously, he served as group CEO of British supermarket chain Tesco.
Still, Lewis is no stranger to the CPG industry. He spent nearly 30 years at Unilever, holding marketing and business roles including President, Americas and Global President, Personal Care. He currently serves as a non-executive board member of PepsiCo.
The appointment follows a months-long search process that includes: Former CEO Debra Crew resigned in July.Amid sluggish liquor sales, he left the company by mutual agreement with Diageo. CFO Nik Jhangiani, who took on the role of CEO on an interim basis, will return to the role of Chief Financial Officer (CFO) following Lewis’ appointment.
“Dave has both extensive CEO experience and proven leadership skills in building and marketing the world’s leading brands, which makes him a great fit for Diageo at this time,” Diageo Chairman John Manzoni said in a press release.
Diageo, which also owns Captain Morgan, Baileys and Tequila Don Julio, reported: Net sales: $4.9 billion In the first quarter, it decreased by 2% compared to the same period last year. The U.S. consumer environment is expected to be weaker than previously projected for the full fiscal year, according to a press release.
In May, Diageo said it was considering it. “Real change” to the portfolio This is because they were preparing for a loss of $150 million related to tariffs. The change “goes beyond the typical smaller brand divestitures” the company has been making over the past three years, it previously said.
But among them Last week’s latest earnings announcementThe company did not provide an update on whether it was still considering a sale.
Lewis said the alcohol market is facing headwinds but sees “significant opportunity.”
“I look forward to working with the team to confront these challenges and realize some of the opportunities in a way that creates shareholder value,” he said in a statement.
