Former Tesco boss named Diageo CEO

Dave Lewis has been appointed chief executive and executive director of Diageo from 1 January 2026.

The former group chief executive of Tesco from 2014 to 2020 and most recently chair of Haleon, a global leader in consumer healthcare, takes over from Debra Crew, who stepped down as chief executive and board director of Diageo this July by “mutual agreement” after two years in the role.

Lewis spent nearly three decades of his career at Unilever, later in executive committee roles, and is a non-executive board member of PepsiCo.

In 2021, he was knighted by Queen Elizabeth II in the New Year’s Honours List in recognition of his contribution to business and the food industry in the UK.

John Manzoni, chair of Diageo, who led the succession process on behalf of the board, said: “We are delighted to welcome Dave as Diageo’s new CEO. 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. The board wishes to recognise and thank Nik Jhangiani for his excellent leadership as interim CEO and for continuing to drive forward Diageo’s sharpened strategy.”

Lewis added: “Diageo is a world-leading business with a portfolio of very strong brands, and I am delighted to be joining the team. 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.”

Nik Jhangiani will continue as interim CEO until the end of December 2025 and resume his CFO role thereafter, while Deirdre Mahlan has returned to Diageo as Interim CFO to support during the transitional period.

Diageo’s net sales for the first quarter of its 2026 fiscal year declined by 2.2% to $4.9b (£3.8b), which it blamed on the negative impact of disposals. This could include the sale of the Sheridan’s liqueur brand to Portuguese beverage and alcohol company Casa Redondo in September, after having offloaded Safari liqueur to the same firm in July 2024.

Earlier this year, Diageo ruled out a sale of its Guinness brand following speculation it could offload its famous stout in a bid to revive growth. Around the same time it sold Cacique, the rum brand is has owned since 2003, to French spirits group La Martiniquaise-Bardinet.

In July 2024, the company also sold its Safari liqueur to Portuguese drinks group Casa Redondo, while in November it created the Diageo Luxury Company to streamline and refocus on the luxury sector.

Diageo owns more than 200 drinks brands, including Johnnie Walker, Baileys, Smirnoff, Captain Morgan, Casamigos and Guinness.