Overview
- Lewis, a former Tesco chief with nearly three decades at Unilever, will take charge on 1 January 2026 and will step down as Haleon chair on 31 December 2025.
- Interim chief executive Nik Jhangiani will lead through December before returning to his chief financial officer role.
- Diageo’s shares rose about 6–8% in early trading after the announcement, partially recovering last week’s losses.
- The company cut sales and profit guidance last week, citing weaker demand in the United States and China and the adverse impact from Chinese white spirits.
- Analysts expect Lewis to pursue cost reductions, selective asset disposals and potentially a dividend reset as he tackles elevated leverage and a Fitch negative outlook.