Copyright standard
Former Tesco boss Sir Dave Lewis has been appointed as chief executive of Diageo as the drinks giant looks to boost its flagging performance. Sir Dave will take on the role on January 1, replacing Nik Jhangiani – the group’s previous chief financial officer – who has been acting as interim chief executive since Debra Crew resigned abruptly in July. Mr Jhangiani will revert back to being chief financial officer once Sir Dave starts in the post. Sir Dave will resign as chairman of consumer healthcare firm Haleon at the end of December to take the helm at Diageo. He led Tesco as group chief executive for six years until 2020, having previously spent nearly 30 years at Ben & Jerry’s and Marmite firm Unilever earlier in his career. His appointment comes at a challenging time for Diageo as it grapples with weaker sales and a sinking share price. On Thursday, the group alerted over tough trading once again, cautioning over weaker demand from consumers in China and the US, meaning it could sell fewer drinks this year, which sent its shares slumping further. Diageo chairman Sir John Manzoni, who led the appointment process, said: “Having conducted an extensive and thorough global search, 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. “We are confident that Dave will work with the team to take Diageo into its next successful chapter in the evolving consumer environment.” Sir Dave 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 realise some of the opportunities in a way which creates shareholder value.”
