By Ayomide Otitoju
Diageo, the global beverage giant behind Guinness and Smirnoff, has named Dave Lewis as its new Chief Executive Officer as the company seeks to recover from a slump partly attributed to tariffs imposed by former U.S. President Donald Trump.
Lewis, currently chairman of consumer healthcare firm Haleon, will assume the role in January 2026, succeeding Debra Crew, who resigned in July after two years at the helm.
“The market faces some headwinds, but there are also significant opportunities,” said Lewis, 60, in a statement released by Diageo on Monday. “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.”
Shares in Diageo surged by seven percent in early trading, leading gains on London’s FTSE 100 index, which rose 0.7 percent overall. The company, which also produces Johnnie Walker whisky, Baileys liqueur, and Don Julio tequila, had issued a profit warning last week citing weaker consumer demand in the U.S. and China. Its share price has declined sharply this year.
Industry analysts described Lewis as a seasoned executive with extensive experience in consumer goods, having previously served as CEO of Tesco and spent decades at Unilever.
“Lewis brings deep experience in consumer brands from his time leading Tesco and decades at Unilever, though he lacks direct exposure to the spirits industry,” said Matt Britzman, senior equity analyst at Hargreaves Lansdown. “Investors may welcome his strong marketing pedigree, but any major strategic reset will take time.”
Nik Jhangiani, Diageo’s Chief Financial Officer who had been serving as interim CEO, will return to his former position.
While Diageo did not disclose the reasons for Crew’s departure, the company has been grappling with slowing global demand and the lingering effects of U.S. trade tariffs that have weighed on its financial performance.
